AT&T cutting back due to worries about U.S. economy

Despite their relative success in recent months, it looks like AT&T might be feeling a bit of the economic burn currently sweeping through the country. The company is offering voluntary severance packages to VP-level executives, hoping that they’ll take the bait and move on to less tumultuous pastures. If the execs choose not to take the package, sources indicate that they will be subject to demotion and pay cuts. Yikes! Cutting back on the general labor force is one thing, but high level moves like this generally indicate that something more serious is afoot. No word on how many execs AT&T hopes will step down, but we’ll certainly have more info in the coming days. Best start counting those pennies, folks!

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