The Bloodletting At At&T Is Just The Beginning

The telecom industry may ax 100,000 more jobs over five years

It is perhaps the driest, most arcane piece of legislation Congress has ever devised, and its path through Washington has been agonizingly slow. The landmark bill that would reform the telecommunications business might not even pass until late January, a year after it was introduced. Already, though, it is setting into motion a top-to-bottom industry restructuring that will require years of wrenching change.

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