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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.

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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

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© 2014 Penton Media Inc.

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