AT&T has officially joined the recession club today, announcing plans to cut 12,000 jobs, approximately 4% of its staff. In what can only be seen as the worst Christmas present ever, AT&T said the job cuts will take place in December and throughout 2009.
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&T plans to take a charge of about $600 million in the fourth quarter to pay for severance costs. The company noted that many of its non-management employees have guaranteed jobs because of union contracts. All affected workers will receive severance “in accordance with management policies or union agreements,” the company said.