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AT&T to Invest Up to $18 Billion, Add 3,000 Jobs in 2009

AT&T says it will invest between $17 billion and $18 billion this year to drive its growth by enhancing wireless and broadband networks to provide more coverage. The company will add nearly 3,000 jobs in this area in 2009, but will move forward with previously announced job cuts jobs in other areas -- primarily wireline -- due to economic pressures, streamlined organizational structure, and a continuing shift of customers from wired service to wireless and broadband. "Demand for broadband continues to grow as new applications emerge and customers embrace them, leading to data traffic on our network growing more than 50 percent year over year on average," says Randall Stephenson, AT&T's chair and CEO, in a company statement. "We recognize the importance of investing in critical network infrastructure, which plays a key role in driving commerce, innovation, and job growth." AT&T did not indicate where the new jobs will be located.

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