AT&T to cut workforce in Slovakia as COVID-19 weighs on demand.
In an announcement on Monday, AT&T Inc. (NYSE: T) expressed plans of slashing its workforce in Slovakia in a bid to cushion the economic blow from the Coronavirus pandemic that it said was keeping demand under pressure. The COVID-19 crisis has so far infected more than 95 million people worldwide and caused over 2 million deaths.
The news comes months after the American multinational conglomerate said that its revenue tanked 5% in the fiscal third quarter. AT&T had also warned of a Coronavirus-driven hit to its fourth-quarter revenue in October.
