Thursday, December 4, 2008
12,000 people will lose their jobs with Telecom Giant AT&T. That's just sad!Photo by About.com
In technology news, the telecommunications giant AT&T is now cutting off 12,000 jobs in their staff amidst the US Financial Crisis. The said lay offs will take place in December and throughout 2009 together with their plans to cut back on capital spending. AT&T is not the only corporation that did this but since they are the largest one in America, this is big news. Their stocks also are going down 4% trading at only 24 dollars. This would hurt most of their internal investors. If you didn't know, they already signified that they slashed 4,900 jobs also this April and lots of them are in the management positions. They are suffering from the advancements in technology since land line units are obsolete and down 11 percent this year alone.
They will now concentrate on businesses that offer cell phone service and broadband Internet access. AT&T is the sole U.S. wireless carrier for Apple Inc.'s popular iPhone.
They will now concentrate on businesses that offer cell phone service and broadband Internet access. AT&T is the sole U.S. wireless carrier for Apple Inc.'s popular iPhone.
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