AT&T Increases Number Of Layoffs To 12% Of Workforce (8,520 employees)

[cthrumatrix]

Dow Jones Business News
AT&T Increases Number Of Layoffs To 12% Of Workforce
Thursday December 11, 2:48 pm ET
By Tom Becker, Of DOW JONES NEWSWIRES


NEW YORK (Dow Jones)--AT&T Corp. (NYSE:T - News) said Thursday it is reducing its workforce by 12% instead of a previously announced 10%.
The nation's largest long-distance carrier began the year with 71,000 employees, meaning roughly 8,520 employees will lose their jobs.

A company spokesman said he couldn't specify in which areas the workforce will be reduced or when the layoffs will be completed.

"The (job cuts) are part of an ongoing process of reduction at the company," said Dan Lawler, the company spokesman.

http://biz.yahoo.com/djus/031211/1448001193_1.html

[pistoff democrat]

1. Ah, yes

more evidence of the 'jobless recovery' :argh:

[UpInArms]

2. are we supposed to use

the *Co's theory of:

the better we do the more casualties we must suffer

so I guess in this new and improved economy, the theory then becomes:

The better the economy does the more jobs we must lose

Sheesh!

I am so sorry for all of the lives that are ruined, families that are hurt and souls that are lost.

[On the Road]

3. Just to Note the Difference

Verizon (including some of AT&T former local companies), just downsized by over 20,000 on a completely voluntary basis with a nice offer.

Death star is correct.

[SpiralHawk]

4. Holy Shit !

But on the bright side, just wait until Bush's tax cuts for the wealthy kick in. Happy Days will be here again. I am sure of it.

And take heart from the Republican motto:
"A Rising Tide Lifts all Yachts."


"According to the authorities, everything is just fine." - A Trusted Source

[Hubert Flottz]

6. "These latest taxcuts will produce a million jobs by 1/1/2004!"

Bush meant in Red China I think!

[pinto]

8. You still have a link to that, I'd like to quote it locally...thanks

[Hubert Flottz]

10. I heard W say it on TV when he was selling his last taxcut!

Bush SWORE the taxcut would produce a million new jobs by the end of the year!

[Hubert Flottz]

13. Here is what I found!

Snip> Bush Administration’s tax cuts falling short in job creation
The Bush Administration called the tax cut package, which was passed in May 2003 and took effect in July 2003, its "Jobs and Growth Plan." The president’s economics staff, the Council of Economic Advisers (see background documents), projected that the plan would result in the creation of 5.5 million jobs by the end of 2004—306,000 new jobs each month, starting in July 2003. Although jobs increased by 57,000 last month, November 2003, the "Jobs and Growth Plan" still fell 249,000 jobs short of the administration’s projection. The administration projected that a total of 1,530,000 jobs would be created in the first five months after the tax cuts took effect. In fact, only 271,000 jobs were created over those five months for a cumulative shortfall of 1,259,000 jobs.

http://jobwatch.org/

EDIT} MORE.....................

Bush's dubious job claims

President Bush claimed that his tax cut proposal would create 1.4 million additional jobs by the end of 2004. It is important to note, however, that these 1.4 million additional jobs are an increase in job growth compared to what would happen with no change in policy. In other words, the White House is saying there would be some job growth with no tax cut but greater growth with it. What gets overlooked in these claims is what happens to job growth after 2004 under the Bush plan.

http://www.epinet.org/content.cfm/webfeatures_snapshots_archive_05072003

[tom_paine]

5. Orwell sez': Escalating job losses mean economic improvements

Can they design an economy without reference to the bottom 80% of Imperial Amerikan Subjects.

Advances in propaganda, advertising, and psychomanipulation tell me that they can if fact do just that.

[pinto]

9. got out an old copy of "1984" recently, gotta have a playbook, y'know n/t

[malachi]

7. Who cares about layoffs?

Th stock market finished over 10k. Soon the rich will be standing on street corners handing out $100 bills to us less fortunate. What a country!

[cosmicdot]

11. one day they say jobless claims fall; the next, they rise

nation's shoppers descended on stores with a fresh burst of energy last month ... I think it was "with abandon" only recently

Retail Sales, Jobless Claims Both Rise

December 11, 2003 12:07 PM EST


WASHINGTON - The nation's shoppers descended on stores with a fresh burst of energy last month, propelling retail sales by 0.9 percent. The open-wallet mind-set raised new hope that the overall economic recovery will be durable.

~snip~


Separately, the Labor Department reported new claims for unemployment benefits last week rose by a seasonally adjusted 13,000 to 378,000. But even with the increase, claims were at a level suggesting that the pace of layoffs is stabilizing.

~snip~

"Cash registers are working harder this holiday season because more people have jobs and the economy is improving," said Commerce Secretary Don Evans. Democrats assail President Bush's handling of the economy, saying it has cost the country 2.3 million jobs since he took office in January 2001.

Excluding sales of automobiles, sales at all other merchants rose for the second straight month by 0.4 percent in November. That showing was slightly stronger than the 0.3 percent rise economists were predicting.

~snip~

http://start.earthlink.net/newsarticle?cat=1&aid=D7VCA8MO1_story

[jayfish]

12. Woo Whooo....

nine tenths of one percent over last years shitball numbers. How did they come up with the word propell to decribe this bunk? I may just need to order another case of champaign.

:party::party::party: :toast::toast::toast: :party::party::party:

Jay

[SOS]

14. Firing their customers again?

Another 8,520 people who won't be able to pay their phone bills next year. But AT&T will proudly announce at their quarterly stockholders meeting that "productivity is up"!
Plus new gold-plated Rolls Royces for everyone on the Board.