Streamlining AT&T Plans 4,600 Layoffs

As it adjusts its business model to lowered demand for landlines, AT&T will lay off 4,600 employees, the Wall Street Journal reports. The company plans to create about the same number of new wireless, broadband, and TV jobs, a trade-off that will create savings through dropping more senior, white-collar workers. "There are parts of the business that are growing and others that are not," a spokesman said. (More AT&T stories.)