|
"A comprehensive, collaborative elections resource."
|
AT&T to Cut Workforce 120 Percent
|
Parent(s) |
Issue
|
Contributor | Servo |
Last Edited | Servo Jan 23, 2004 01:37pm |
Logged |
0
|
Category | Humor |
News Date | Sunday, January 23, 2000 06:00:00 AM UTC0:0 |
Description | AT&T will reduce its workforce by an unprecedented 120 percent by the end of 2001, believed to be the first time a major corporation has laid off more employees than it actually has.
AT&T stock soared more than 12 points on the news.
The reduction decision, announced Wednesday, came after a year-long internal review of cost-cutting procedures, said AT&T Chairman C. Michael Armstrong. The initial report concluded the company would save $1.2 billion by eliminating 20 percent of its 108,000 employees.
|
Share |
|
2¢
|
|
Article | Read Full Article |
|
Date |
Category |
Headline |
Article |
Contributor |
|
|