AT&T Corp., the nation's largest long-distance carrier, announced moves to cut about 7,000 more jobs as it retreats from the consumer market and to write off $11.4 billion in assets that have lost much of their earning power.Remember it, because you can be sure that Bush won't.
The cuts come as AT&T, based in Bedminster, N.J., struggles with plunging revenue and earnings. AT&T, which had forecast cutting about 5,000 positions earlier in the year, said it will eliminate a total of about 12,000 jobs this year, resulting in a 20% reduction from the 61,600 employees it had at the end of 2003.
Friday, October 08, 2004
You just know that Bush will completely ignore reality tonight if the subject of jobs comes up. He'll talk about how tax cuts have stimulated job creation despite his administration presiding over the largest loss of jobs during a presidency in over 50 years. Just keep all the counter examples in mind, like one announced today: