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. Last Updated: 07/27/2016

AT&T Plans Job Cuts

NEW YORK -- AT&T Corp. reportedly plans to cut as much as 25 percent of its executive work force as part of a drive to reduce its costs by $2 billion by the end of this year.

The Wall Street Journal, citing unidentified sources, reported Monday the cutbacks are likely to include the elimination of hundreds, if not thousands, of positions.

AT&T says no final goal for job reductions has been determined, the report said.

A call to AT&T for comment on the report was not immediately returned.

Chairman Michael Armstrong has been pressing for the cuts in AT&T's executive ranks to make certain that the cost-cutting hits all levels of the company, the newspaper said.