Motherboard cited internal documents at the telecommunications giant that said AT&T is planning for a “geographic rationalization” that would consolidate some operations in 10 locations, including New York, California, and Texas.
“To win in this new world, we must continue to lower costs and keep getting faster, leaner, and more agile,” AT&T executive Jeff McElfresh reportedly said in an internal memo shared with company managers on Friday. “This includes reductions in our organization, and others across the company, which will begin later this month and take place over several months.”
In an email to
Fortune, AT&T spokesman Jim Greer said, “We are hiring to meet the needs of the growth areas of our business. In fact, we hired more than 20,000 new employees last year and more than 17,000 the year before. In cases where we do have to adjust our workforce, we take steps to lessen the effect on employees.”
AT&T’s stock closed Tuesday up $0.39 a share, or 1.26%, at $31.28 a share.
