Of course AT&T is outsourcing thousands of jobs after getting a massive tax cut last year

AT&T jobs

It's bad enough that AT&T cut thousands of jobs (after promising to create thousands of new ones) despite saving a reported $3 billion thanks to the Trump tax cuts that were signed into law in December 2017. The carrier had pushed hard for the tax cuts, promising to invest an extra $1 billion in 2018 -- with CEO Randall Stephenson even touting that "every billion dollars AT&T invests is 7,000 hard-hat jobs." And he told CNBC the following, by way of continuing to make a public case for the tax cuts: "Lower taxes drives more investment, drives more hiring, drives greater wages. I know exactly what AT&T would do: We would invest more.”

Except -- well, not so much. Earlier this year, a Communications Workers of America analysis based on public financial statements revealed that "the telecom company eliminated 23,328 jobs since the Tax Cut and Jobs Act passed in late 2017, including nearly 6,000 in the first quarter of 2019." And that's not all. AT&T is also planning to lay off thousands of additional workers -- after they've first trained their own cheaper, foreign replacements, that is.

Continue reading...

BGR Top Deals:

  1. Today’s best deals: Amazon price mistake, $7 smart plugs, $3 Instant Pot cookbook, Bose earbuds, Wi-Fi extender, more
  2. Price mistake alert: Anker’s $80 AirPods rivals were accidentally slashed to $29.99

Trending Right Now:

  1. A scary unidentified virus is spreading in China
  2. Here’s how to create a collage of your top nine Instagram posts from 2019
  3. Best Buy’s huge year-end sale ends today – here are Tuesday’s 10 best deals

Of course AT&T is outsourcing thousands of jobs after getting a massive tax cut last year originally appeared on BGR.com on Tue, 31 Dec 2019 at 19:19:24 EDT. Please see our terms for use of feeds.

Comments

Post a Comment

Popular posts from this blog

Retailers are scrambling to find trucks amid the pandemic, generating record-smashing pay for drivers

Image
Truck drivers have fled the industry, but those who have stuck around are seeing red-hot rates. Glenn Koenig/Los Angeles Times via Getty Images A shortage of truck drivers combined with a surge in online and in-store shopping has made trucking unusually expensive.  Retailers are spending around 30% more than they did last year to move goods via truck.  The last time trucking rates soared this high, it forced companies like Amazon and XYZ to pass down the unusual transportation costs to consumers by raising prices.  Visit Business Insider's homepage for more stories .   There's a reason the shelves at your local big-box retailer still looks barren, months after the coronavirus crisis forced manufacturers and retailers to pump out more toilet paper and cleaning supplies than ever.  Tens of thousands — potentially hundreds of thousands — of truck drivers have left the industry since early 2019, experts say, leaving retailers scrambling to fill shelves and online orders
Read more

What Facebook doesn’t understand about the Facebook walkout

Image
Illustration by Alex Castro / The Verge I. The CEO On Friday afternoon, Facebook made one of its most controversial content moderation decisions in company history. After President Trump posted to Facebook some tweets that Twitter had placed behind a warning for “glorifying violence,” Mark Zuckerberg said that the company would allow them to stand . “I know many people are upset that we’ve left the President’s posts up,” Zuckerberg said in a Facebook post , “but our position is that we should enable as much expression as possible unless it will cause imminent risk of specific harms or dangers spelled out in clear policies.” “When the looting starts, the shooting starts,” Trump had tweeted — quoting a former Miami police chief who, in 1967, called for a violent crackdown on the city’s black community. And just as the president suggested, a long weekend of violence followed in the United States, with police assaulting protesters and bystanders across the country in the days that fo
Read more

Woodward claims he sat on Trump coronavirus remarks for 6 months in order to do more fact checking

Image
NEW YORK, NY - SEPTEMBER 11: Bob Woodward speaks with Dana Perino at "The Daily Briefing" at Fox News Channel Studios on September 11, 2018 in New York City. Dominik Bindl/Getty Images Bob Woodward is defending his decision to withhold President Trump's remarks about COVID-19 until the release of his new book. In public, Trump was downplaying the threat of the coronavirus, even suggesting it was a new "hoax" from Democrats to harm his presidency. In a conversation with Woodward, however, Trump contradicted his public remarks, noting that the virus is far more dangerous than the seasonal flu. In an interview with the Associated Press, Woodward claimed that he sat on the comment for more than six months in order to do more fact-checking. “He tells me this, and I’m thinking, ‘Wow, that’s interesting, but is it true?’ Trump says things that don’t check out, right?” Woodward said. Visit Business Insider's homepage for more stories . President Trump kn
Read more