DALLAS, TX – AT&T announced today it will cut approximately 12,000 jobs, about 4% of the company's total workforce, citing economic pressures, a changing business mix and a streamlined organizational structure. The cuts will happen later this month, and the company said that it has earmarked about $600 million in its fourth quarter to pay severance to affected employees. It also announced a decrease in 2009 capital expenditures. www.att.com
