AT&T Layoffs Spark Downturn Talk, Debate

AT&T Inc.’s (T) announcement Thursday that it’s laying of 12,000 people came not only as a nasty surprise to workers but also as a harbinger of bad times for the telecom industry.

At least, that’s BusinessWeek’s assertion. Other outlets are countering the theory with talk that AT&T is cutting back on network upgrades and therefore job cuts are imminent, not necessarily due to the economy.

Either way, 12,000 layoffs is nothing less than horrible for the employees headed into the holiday season without jobs. Happy Holidays indeed.

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