Already heavy with debt before the pandemic, AT&T announced a new $5.5 billion loan and said it would scale down its operations to generate cash—a sign that the media giant could initiate layoffs
Already heavy with debt before the pandemic, AT&T announced a new $5.5 billion loan and said it would scale down its operations to generate cash, a sign that the media giant could initiate layoffs.racked up through its purchasesWith $12 billion in cash on hand, AT&T said it would be able to generate more cash by “sizing our operations to economic activity”; oftentimes, reduction in operations translates to layoffs.
As coronavirus grinds the entertainment industry to a halt, AT&T would not be the first media company to lay off or furlough staff:
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