AT&T to lay off 5000 workers

AT&T is continuing its quest to reduce costs and protect profits by laying off another 5000 employees this year. The layoffs affect the company’s business, consumer and corporate units.

To cover the cost of these layoffs and the 5100 employees dismissed last year, AT&T will take about a $1 billion charge before taxes in the fourth quarter of 2001.

AT&T also plans to cut capital spending in its business and consumer units by at least 20% this year and to sell its office building in Basking Ridge, N.J.

--Amalia D. Parthenios, staff writer