AT&T Cutting 12,000 Jobs

AT&T Inc. today announced that it is going to lay off approximately 12,000 of its employees. While this is a significant number, it's only about 4% of the company's total workforce.

And though AT&T is reducing jobs in some areas, it continues to add jobs in other parts of its business — such as wireless, video, and broadband.

The company cited economic pressures, a changing business mix, and a more streamlined organizational structure as the reasons for the layoffs.

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