AT&T has enacted hundreds of layoffs as subscribers cut landlines, and even enterprise revenue has dropped, slowing more in the third quarter than in the second.
“We’re a butts-in-the-seats kind of business,” Stephenson told Dow Jones Newswires at the WSJ CEO Council on Tuesday. More employees drive demand for telecom services, WSJ said.
Similarly, AT&T expects flat or slightly improved financials in the current quarter; WSJ noted that Stephenson’s rebound forecast “is the most direct statement among his telco peers.”
But Stephenson said he doesn’t know when the job losses will end.