Drudge Retort: The Other Side of the News
Thursday, June 20, 2019

Back in November of 2017 AT&T promised that if it received a tax break from the Trump administration, it would invest an additional $1 billion back into its network and employees. At the time, CEO Randall Stephenson proclaimed that "every billion dollars AT&T invests is 7,000 hard-hat jobs." Not "entry-level jobs," AT&T promised, but "7,000 jobs of people putting fiber in ground, hard-hat jobs that make $70,000 to $80,000 per year."

Yeah, about that.

The Trump tax cut resulted in AT&T getting billions in immediate tax relief, and roughly $3 billion in tax savings annually, in perpetuity.

Yet when it came time for AT&T to re-invest this money back into its network and employees, AT&T actually did the opposite and began laying them off in droves. Unions claim AT&T has laid off an estimated 23,000 workers worldwide since the Trump tax plan, with investors and executives unsurprisingly pocketing the savings.

More

Comments

Admin's note: Participants in this discussion must follow the site's moderation policy. Profanity will be filtered. Abusive conduct is not allowed.

Nabbing Billions In Tax Breaks

You mean they got to keep some of their money.

#1 | Posted by Sniper at 2019-06-20 10:46 AM | Reply

Then, they got to keep even more of their money when they laid off thousands of workers.

Sniper gauges the success of the economy by how little companies spend on their workers.

#2 | Posted by snoofy at 2019-06-20 11:31 AM | Reply

Once a fiber project is deployed, they don't need the installers and construction crews as the work transitions to maintenance. Much of the labor force now are contractors anyways, which move on to other projects, enterprise, and gov't work.

The telco's have been operating like this since the 90's. The 30-year career with the telephone company is over.

#3 | Posted by SheepleSchism at 2019-06-20 11:43 AM | Reply | Newsworthy 1

Nabbing Billions In Tax Breaks

You mean they got to keep some of their money.

#1 | Posted by Sniper

No, idiot, they're keeping the billions borrowed to be handed to them that WE, including YOU, have to pay back.

#4 | Posted by jpw at 2019-06-20 11:44 AM | Reply | Newsworthy 1


@#3 ... Once a fiber project is deployed ...

The fiber project was a part of AT&T agreement that allowed AT&T to merge with DirectTV.

Bringing it up as a rationale for the broken promises AT&T made about the tax cuts is a red herring.

But I suspect you already know that.

#5 | Posted by LampLighter at 2019-06-20 11:58 AM | Reply

AT&T sucks. My wife has multiple phone lines at her business. The last couple of 2 year contract renewal cycles, the bill ended up being twice what the AT&T Business CS agent quoted. They wouldn't send an email outlining the terms discussed, and no one would do anything about it after the fact. After some research, she switched to a VOIP company with many large American corporate clients. Switching to them from AT&T cut her bill by more than half, porting the numbers was seamless, they have lot of innovative features, and their customer service is outstanding.

I dumped AT&T myself a few years ago, paying half what they charged, and with better service.

#6 | Posted by AMERICANUNITY at 2019-06-20 12:14 PM | Reply

I wonder how many of those laid off voted Republican?

#7 | Posted by danni at 2019-06-20 12:34 PM | Reply | Newsworthy 1

Comments are closed for this entry.

Home | Breaking News | Comments | User Blogs | Stats | Back Page | RSS Feed | RSS Spec | DMCA Compliance | Privacy | Copyright 2019 World Readable

Drudge Retort