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Tale of the Tape  

T Sheds 4% of Workforce

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December 04, 2008 |Comments: 0
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T

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%.

Read the full analyst report on T

 
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