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The current economic conditions have begun to take its toll on US companies. Among them is AT&T, which is in the process of cutting 1.5-percent of their workforce. This news was revealed by a ruling filed with the Securities and Exchange Commission.
AT&T employees who will be hit by the layoffs are those who have no direct contact with AT&T customers and are said to include those in management. The plans for the layoff’s are part of AT&T’s ongoing streamlining of operational activity. Despite laying off a big chunk of their employees, AT&T is expecting to get a pre-tax charge of $374 million as a result of this layoffs. But don’t worry because AT&T is attempting to make sure that the remaining workforce after this layoff plan is carried out will still be able to manage and maintain the company’s stability.
Read [CNET]
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