AT&T abandons New Jersey HQ

NEWS AT&T is to pull all staff out of its headquarters office in New Jersey and rent the space out to other companies. All 3,000 workers at the Basking Ridge offices will be re-located to other buildings as the US telco tries to reduce its debt mountain. The move marks the end of an era, as although AT&T's official HQ remains a showcase art-deco building in Manhatten, New York, nearly all the firm's top executives were based at Basking Ridge. According to a report in the Financial Times, the decision is a key part of AT&T's extensive restructuring into consumer and business-focused divisions.