AT&T to cut jobs in weaker business units
AT&T Inc is cutting some jobs in declining areas of its business, while hiring more people in faster-growing segments, an AT&T spokesman said on Monday.
The layoffs will affect a "small" portion of the workforce and are consistent with staffing changes AT&T has done in the past, spokesman Jim Greer told Reuters by telephone. He declined to specify how many positions would be cut.
AT&T is the second-largest U.S. wireless carrier by subscribers. Last year it agreed to buy Time Warner for $85 billion, and it said in June it plans to achieve annualised cost savings of $1.5 billion over three years.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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