AT&T To Lay Off 4,650 Employees
Cuts Will Claim 1.5% Of Telco’s Workforce
By Todd Spangler -- Multichannel News, 4/18/2008 11:24:00 AM
AT&T will cut 1.5% of its workforce -- roughly 4,650 employees -- as part of integrating the former operations of its legacy companies, which include BellSouth and SBC Communications.
The company, which disclosed the cuts Friday in a filing with the Securities and Exchange Commission, said it will take a $374 million pretax charge in the first quarter of 2008 associated with the layoffs.
AT&T reported having approximately 310,000 employees as of Jan. 31, 2008. The telco said the layoffs would be primarily among “management employees,” particularly in non-customer-facing areas.
AT&T said “the vast majority” of its workforce will not be affected and that headcount “is expected to remain stable in 2008 as the company hires additional employees to support growth areas.”
“This initiative is part of the company's move from a collection of regional companies to one AT&T focused on customers,” the company said in the filing.
AT&T completed the $80 billion-plus acquisition of BellSouth in December 2006.
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