workforce

US telecommunications company, AT&T, announces 12,000 job cuts, or 4% of its workforce, in an effort to reduce costs.

The telecommunications giant cites economic pressures and a changing business mix in making a reduction of 4 percent of its workforce.

AT&T said Thursday that it will cut about 12,000 jobs, or 4 percent of its workforce, due largely to “economic pressures.” The layoffs are beginning to sound like a broken record (or MP3).

AT&T said it wants to streamline its operations as its business morphs to one that’s largely dependent on wireless service (statement).

Troubled Swiss banking giant Credit Suisse says it is shedding another 5,300 jobs from its workforce.

Adobe said Wednesday that it will eliminate 600 full-time positions, or roughly 8 percent of its workforce, amid weaker than expected fourth quarter earnings.

The company said in a statement that it will deliver fourth quarter revenue between $912 million to $915 million, down from its previous outlook of $925 million to $955 million.

Bayern Landesbank confirms it will be cutting 5,600 of its 19,000 jobs globally, more than a quarter of its workforce.

Sun said Friday that it will lay off 15 percent to 18 percent of its workforce–or 5,000 to 6,000 people–as it restructures amid weak demand, a series of poor quarters and a business model that rallies around open source software.

Add it up and Sun is looking to save about $700 million to $800 million annually.

Chip equipment maker is looking to cut costs as it faces a difficult 2009, with semiconductor orders expected to plunge.

Cuts at blogging software company come on the heels of layoffs Tuesday at Wired.com and Current TV and don't bode well for the Bay Area new media world.

Business-focused social-networking site cuts 36 jobs to focus on revenue-producing areas a month after raising $22 million in additional funding.