AT&T Layoffs Job Cut: layoff 350 employees

There is another setback signal to the ailing US economy. The electronic giant AT&T has decided to go for a massive layoffs or job cuts

AT&T Incorporated which is headquartered in Dallas USA has annouced plans for a massive lay off.

How many employees will be affected in the AT&T Layoffs Job Cut?
Around 12,000 employees will loose their jobs at AT&T. That is about 4 % of the total headcount that AT&T has nationwide.

Which locations will be affected by the AT&T Layoffs Job Cut?
The layoffs by AT&T could affect some of the estimated 3,000 company employees in Tarrant County.

When will the AT&T Layoffs Job Cut?
The layoffs are scheduled for the phased timeframe. It will start in December 2008 and will proceed in a phased manner throughout 2009

Are there any compensation offered to the employeed affected by AT&T Layoffs Job Cut?
Yes. Though minor details are not available, but it is reporeted that AT&T is expected to take a charge of about $600 million in the last quarter of 2008 to pay employee severance packages. These layoffs come on top of the 4,600 jobs the company said in April it would eliminate around the country.

Economic pressures, a changing business mix and a more streamlined organizational structure were all cited as contributing to the cuts, but the company is still adding jobs in areas related to wireless, video and broadband. AT&T plans to reduce its 2009 capital expenditures from 2008 levels, and capital plans for next year are currently being finalized and will be available when fourth-quarter results are released in late January.

Let's hope that alternative jobs are available to the affected employees of AT&T Layoffs Job Cut.