Digital Daily » severence http://digitaldaily.allthingsd.com by John Paczkowski Wed, 25 Nov 2009 01:37:38 +0000 http://wordpress.org/?v=2.8.4 en hourly 1 http://allthingsd.com/theme/images/logo-rss.jpg All Things Digital http://allthingsd.com/ 144 22 AT&T Announces Q4 Morale Reduction http://digitaldaily.allthingsd.com/20081204/att-announces-q4-morale-reduction/ http://digitaldaily.allthingsd.com/20081204/att-announces-q4-morale-reduction/#comments Thu, 04 Dec 2008 13:34:50 +0000 John Paczkowski http://digitaldaily.allthingsd.com/?p=9125 AT&T joined the sad conga line of companies laying off workers, announcing on Thursday the elimination of 12,000 jobs. That’s roughly four percent of its workforce. The company cited “economic pressures, a changing business mix and a more streamlined organizational structure” as the rationale for the move. It expects to take a fourth-quarter severance-related charge of about $600 million.

Ugly news for the company’s workforce, which has already seen its headcount reduced by 4,600 this year as part of a reorganization of AT&T’s shrinking landline business.

Shares of AT&T (T), which have dropped by about 30 percent this year, slipped another 2.7 percent in pre-market trading.

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