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September 18, 1995

AT&T SEEN SLASHING COMPUTER WORKFORCE BY 10,000, 20%

By CBR Staff Writer

IBM Corp may still be looking at job cuts, but on Friday the boom fell at AT&T Corp’s Global Information Solutions, as the company was believed to have started cutting 10,000 jobs, over 20% of a workforce of 43,000, at a cost of $1,200m to AT&T’s third quarter profits. AT&T declined to comment on the cuts, which were reported in the Wall Street Journal. The paper said the company may also ultimately pull out of the personal computer business as part of a major restructuring of Global Information Solutions. It says it will detail the cuts this week. The unit had an operating loss of $332m in the first half this year and is expected to lose over $600m for the year, the Journal said. It originally looked for $400m profit this year.

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