Long-distance carrier blames financial woes on pricing pressure, changes in the regulatory environment AT&T Corp. will cut more than 20 percent of its workforce this year, ratcheting up its planned layoffs from a previously estimated target of 8 percent, the long-distance telecommunications carrier announced Thursday.It also will take a non-cash charge of about $11.4 billion in the third quarter to reflect a decrease in the value of the company’s assets, the company said in a statement. AT&T, in Bedminster, New Jersey, blamed the asset impairment on pricing pressure, changes in the regulatory environment and the move toward new technologies in the business market.In July, after reporting a drop in net income in the second quarter, AT&T announced it would stop marketing consumer long-distance services. That move, along with other corporate change initiatives, led to the increased workforce cuts, the company said Thursday. About three-quarters of the employees affected this year already have departed or been notified, the statement said. In the third quarter, AT&T will record a restructuring charge of approximately $1.1 billion for the cutbacks. On the bright side, AT&T expects to finish the year with net debt of less than $7 billion, representing a cut of almost 50 percent over the past two years, it said. In addition, job cuts and other cost-cutting are helping profitability, the company said.AT&T, along with other long-distance carriers, has been slammed by falling prices over the past few years. Regulatory changes also have hurt, the company has said. When AT&T announced its retreat from consumer long-distance in July, it said U.S. Federal Communications Commission rules protect incumbent local carriers by allowing them to offer bundles of local, long-distance and broadband services, putting AT&T at a disadvantage. Technology Industry