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Posted: Thursday, 04 December 2008 8:17AM
AT&T Cutting 12,000 Jobs
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DALLAS (AP) -- AT&T says it is cutting 12,000 jobs, or about 4 percent of its work force, because of the economic downturn.
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The Dallas-based telecommunications company said Thursday the job cuts will take place in December and throughout 2009.
The company also cited a changing business mix and a more streamlined structure as other reasons for the layoffs.
AT&T plans to take a charge of about $600 million in the fourth quarter to pay for severance costs.
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