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AT&T to slash 12,000 jobs, cut expenses
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Posted on
Dec 05 2008 4:43 AM
by
adeal
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The reductions amount to about 4 percent of the workforce, Dallas-based AT&T said yesterday in a statement. The company plans to record $600 million in expenses for severance this quarter. The reductions would bring AT&T’s total job cuts to more than 25,000 this year. The carrier and its smaller competitors are grappling with slowing consumer spending and a jobless rate at its highest level in 14 years.
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