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AT&T details layoff plans

Published on .

San Antonio, Texas—AT&T Friday filed a Form 8-K with the Securities and Exchange Commission stating it will lay off about 1.5% of its workforce.

The cuts will come primarily among management employees. Published reports estimate the number of layoffs at 4,600.

AT&T characterized it as “the next step in streamlining its operations—particularly in noncustomer-facing areas—to operate more efficiently after bringing together several companies in recent years.”

The telecom giant said head count overall is expected to remain stable in 2008 as the company hires additional employees to support growth areas. AT&T will take a $374 million pre-tax charge in the first quarter associated with the staff reductions.

—Carol Krol

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