AT&T to cut 12,000 jobs due to economic downturn

Telecom Giant, AT&T said, it will cut 12,000 jobs, or about 4% of its total work force. The company holds responsible to economic pressures and make an effort to create a “more streamlined organizational structure.” AT&T spokesman Walt Sharp says the telecommunications company, which relocated its corporate headquarters from San Antonio to Dallas earlier this year, has approximately 14,400 employees in the Dallas-Forth Worth area.

No specific information on how many jobs will be lost in the Dallas area has been provided. Job cuts will occur nationwide, he said.

Regardless of Job cuts, AT&T is employing more than 7,000 people and growing other parts of businesses. The company is also intending to trim its 2009 capital expenditures from 2008 levels.

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