ATT Laying Off 4650

ATT will be laying off another 4650 people, mostly in the residential phone portion of the ATT empire. This is a large number although it represents only about 1.5% of the total ATT global workforce. In December of 2006 ATT purchased Bell South for 86 Billion and announced 10,000 layoffs at that time.

ATT appears to be hurting as customers switch away from residential lines towards mobile offerings, and Verizon's new dominance in the mobile space as a result of taking away much of the 700 MHZ spectrum in the recent auction may be yet another hurdle for ATT to overcome as the mobile and VOIP landscape forces changes on all the legacy players.

The New York Times Reports