The Hill article With construction equipment prices surging, some of the country’s biggest companies are looking to cut costs.
The Wall Street Journal reports that major players like AT&T and AT&G are cutting costs to the tune of $2.7 billion to $2 million per worker.
The Journal reports AT&T’s CEO Randall Stephenson said in March that the company will cut some costs to save the company $1.2 billion this year.
AT&Gs CEO John Legere has said that cuts are coming.
“I think it’s going to be a little bit of a tough year,” Legeres spokesman Matt Tuss said.
“I think we’ll see a lot of consolidation.”
Legeres chief operating officer, Jim McNerney, has also said cuts will be coming.
The companies aren’t alone.
The Wall Street Times reports that in February, AT>ains Chief Financial Officer David Karp said the company plans to slash $2 to $4 billion in costs by 2019.
The WSJ reports that AT&g will slash nearly $1 billion in its workforce in 2019.AT>ens new Chief Financial Officers David Kasp and John Schulte have said that the cutbacks will result in a net loss of $5.4 billion.
A year ago, ATgtens Chief Financial Office, John Schindler, said the cost savings could reach $10 billion in 2019 alone.