Friday 17 May 2019

AT&T promised it would create 7,000 jobs if Trump went through with its $3B tax-cut, but they cut 23,000 jobs instead

a post by Cory Doctorow for the Boing Boing blog



In 2017, AT&T CEO Randall Stephenson campaigned for Trump's massive tax-cuts by promising that they would create 7,000 jobs with the $3,000,000,000 they stood to gain, as well as investing in new infrastructure: instead, the company has reduced its headcount by 23,328 workers (6,000 in the first three months of 2019!) while reducing capital expenditures by $1.4B (AT&T reduced capex by another $900m in Q1/2019).

AT&T substantially increased executive bonuses over the same period.

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