(AP) – AT&T says it is cutting 12,000 jobs, or about 4 percent of its work force, because of the economic downturn.
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.
(Copyright 2008 by The Associated Press. All Rights Reserved.)