AT&T will report a pre-tax restructuring charge of approximately $240 million in its Q4 2002 financial results to cover the costs of approximately 3,500 planned employee separations. The affected employees were notified last year of the downsizing. AT&T has previously indicated plans for a separate asset-impairment charge of approximately $1.1 billion in Q4 2002 associated with its past investment in AT&T Latin America.
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- AT&T has two major business units, AT&T Business and AT&T Consumer. As of mid-November 2002, the two units together had 72,000 employees across 56 countries.