AT&T Plans Layoffs

According to a Friday filing with the Securities and Exchange Commission the company is planning to lay off approximately 4,650 employees. The company said the 1.5 percent decrease in its workforce is “the next step in streamlining its operations. The majority of the job cuts will be at the managerial level and that the overall headcount is expected to remain stable throughout 2008. The company also stated in the SEC report that it will continue to seek and hire talent to support the main growth areas of the company. Following the acquisition of BellSouth in 2006, the company projected 10,000 job cuts but has actually grown since then by 7,000 as its wireless and TV divisions expanded. At the end of last year, the San Antonio-based company (NYSE: T) had about 310,000 employees in the United States, spokesman Kerry Hibbs said. "This initiative is part of the company's move from a collection of regional companies to one AT&T focused on customers," AT&T said in the filing.