The same year that Trump's FCC Chairman Ajit Pai killed broadband privacy and cheated Network Neutrality to death, the Trump tax plan delivered a $20B windfall to AT&T -- both Trump and Pai claimed that the measures would stimulate the economy and trickle down to the rest of us.
Now, AT&T is saying thank you to America by prepping mass layoffs in ten of its operational hubs in New York, California, Texas, New Jersey, Washington State, Colorado, Georgia, Illinois, Missouri, and Washington, DC. They've also cut investment in broadband rollout.
Despite some saber-rattling, Trump also let AT&T merge with Time-Warner.
The billions Trump gave to AT&T are being used for stock-buybacks, executive compensation, and paying off debts from previous ill-advised mergers.
Last month, Verizon killed 10,000 jobs after pocketing billions in tax-breaks.
In a memo of talking points advising managers on how to address employee concerns obtained by Motherboard, AT&T attempts to explain away the disconnect between the company’s words and its actions.
“What we’ve said was that AT&T planned to invest an additional $1 billion in the United States this year as a result of tax reform, and that research shows that every $1 billion in capital invested in the telecom industry creates about 7,000 good-paying jobs for American workers, across the broader economy,” the memo states.
But wireless sector investment actually declined last year, with most of the savings from regulatory favors and tax breaks going instead toward stock buybacks, executive compensation, or to pay off the mammoth debt accumulated by a series of AT&T megamergers many consumers and employees didn’t want in the first place, critics charge.
AT&T Preps for New Layoffs Despite Billions in Tax Breaks and Regulatory Favors [Karl Bode/Motherboard]
(Image: Richard Moniz, CC-BY-SA)
In The Surprising Breadth of Harbingers of Failure (Sci-Hub mirror), a trio of economists and business-school profs build on a 2015 Journal of Marketing Research paper that claimed that some households' purchasing preferences are a reliable indicator of which products will fail -- that is, if households in a certain ZIP code like a product, […]
On Friday, googlers staged a workplace rally demanding the reinstatement of two suspended co-workers who'd been involved in workplace organizing against collaboration with ICE and tolerance for homophobia; on Monday, four of the organizers of the rally were fired.
The 1941 Disney animator's strike was bitterly fought, as Walt Disney refused to grant the concessions that all the other animation studios had agreed to, and instead grew paranoid and accusatory, convinced the "Communist infiltrators" had turned his animators against him.
Weighted blankets are officially a thing. And if you’ve ever tried one, you know there’s a reason for the fuss. Parents have known for generations that swaddling a baby has a profound calming effect, and the gentle pressure that blanket weights provide can have the same effect on restless sleepers. Pretty much all parts of […]
Walk through any office, and you will likely spot a few bobbleheads. These wobbly figurines are great fun to have around, although most celebrate people we will never meet. For something a little more personal, try Handmade Custom Bobbleheads. These mini caricatures are sculpted and painted by skilled artisans, based on any photo you provide. […]
In the early days of the web, everyone wanted a .com domain for their site. As a result, all the good ones got snapped up. But .com no longer has the cachet it once did. In fact, many new businesses and individuals are opting for other top-level domain extensions. One of the most memorable is […]