AT&T Lowers the Boom, Cutting 12,000 Jobs

AT&T has announced plans to cut four percent of its work force, some 12,000 jobs, and while the company is only saying the cuts will come from offices nation-wide, many who work for AT&T in Chicago are holding their breath. Most of the cuts will come from the company's landline division; the company's voice line services decreased by 11 percent last quarter while wireless services increased. Severance packages will cost the company around $600 million and the layoffs will begin this month and continue into 2009.

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