AT&T's charge appeared to be the largest in a series of charges announced by U.S. companies this week.
The operator, whose annual revenue is expected to be $124.1 billion this year, said the charge is the result of a provision in the law related to the tax treatment of Medicare subsidies. As a result of the legislation, the company, which ended 2009 with 282,000 employees, said it will be evaluating prospective changes to the health care benefits it offers to employees at retirees.
Is this one of those "unexpected" developments we hear so much about these days?
Right next to the 'unexpected' increases in the unemployment rate and the 'surprising' drop in median home prices. |