text: AT T to Cut About 7,400 Jobs  WASHINGTON (Reuters) - AT T Corp. &lt;A HREF="http://www.investor.reuters.com/FullQuote.aspx?ticker=T.N target=/stocks/quickinfo/fullquote"&gt;T.N&lt;/A&gt; will cut another  7,400 jobs and reduce the value of its assets by \$11.4 billion,  spurred by its retreat from traditional consumer telephone  services, the company said on Thursday.