AT&T Inc. joined the recession’s parade of layoffs today by announcing plans to cut 12,000 jobs, about 4 percent of its work force.
The Dallas-based telecommunications company – the nation’s largest – said the job cuts will take place in December and throughout 2009. The company also plans to reduce capital spending next year.
Spokesman Walt Sharp said the layoffs will be “across the company and across the country,” but would not specify what departments and cities would be most affected. These layoffs come on top of 4,600 jobs the company said in April it would eliminate.
At 11 a.m., AT&T shares traded at $28.78, down 30 cents, or 1 percent. (AP)
