T Sheds 4% of Workforce – Zacks Tale of the Tape
Source: http://www.zacks.com/stock/news/16234/T+Sheds+4%25+of+Workforce+-+Zacks+Tale+of+the+TapePosted on Thursday, December 4th, 2008 | In Stocks to Watch
Contributed by: Zacks Market Commentaries (http://www.zacks.com/) -
AT&T Inc. (T) announced that it will eliminate 12,000 positions as part of its cost-cutting measures to combat the global economic environment.
AT&T also said that while these job cuts will take place for the rest of 2008 and 2009, the phone company will take charge of roughly $600 million in the fourth quarter of this year for severance. The Texas-based company is also aiming to cut its 2009 capital spending budget from its current levels.
Shares are currently down by more than 2%.
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