AT&T Inc. and DuPont Co. said Thursday that they would cut thousands of jobs, blaming the weak economy.
AT&T (T, Fortune 500), a Dallas-based telecom operator, said it would cut 12,000 jobs, totaling 4% of its workforce.
DuPont (DD, Fortune 500), a chemical company based in Wilmington, Del., said it would cut 2,500 jobs. (CNN)
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AT&T will cut roughly 1.5 percent of its workforce, primarily among its management ranks, according to a filing Friday with the Securities and Exchange Commission.
The move is part of its “next step in streamlining its operations,” following its acquisitions of several regional companies in recent years. AT&T expects to take a pre-tax charge of $374 million in the first quarter as a result of the layoffs.(CNET)
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