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.
When contacted by Ars, AT&T didn't deny any of the CWA's findings. "We continue to hire in areas where we're seeing increasing demand for products and services, but technology is changing rapidly and that affects hiring and employment," AT&T told Ars. "There are fewer jobs in parts of the business that are declining and facing technology shifts."
AT&T promised 7,000 new jobs to get tax break—it cut 23,000 jobs instead [Jon Brodkin/Ars Technica]
(Image: Mike Mozard, CC-BY)
Trump's 2017 #taxscam transferred more than a trillion dollars to the richest people in America, but when Trump talks about it, he likes to tout the bill's "opportunity zone" provisions that provided massive tax breaks to investors who put money into places that would supposedly create jobs and housing for poor Americans.
A post called "The Right Way to Reduce Your China Product Costs" on China Law Blog (previously) sounds like pretty anodyne stuff, but it turns out to be a catalog of several technothrillers' worth of ultra-weird, real-world skullduggery and chicanery from the world of late-stage capitalism and trade war.
It's a preview of just how badly things could go in 2020: the Kentucky gubernatorial race was narrowly decided for the Democratic candidate Andy Beshear, but the monumentally unpopular Trumpist incumbent Matt Bevin will not concede, and instead, he is repeating the Trumpist lie that "voter fraud" caused him to lose his office.
The more you use your computer, the more it becomes possible for others to use it too. Where there are anti-virus systems, there are hackers looking for a way to get around them. That’s why it’s important to get software that doesn’t just passively scout for viruses in the background. The folks behind GlassWire have […]
Knowledge is power. It’s a cliché, but sometimes things turn into a cliché because they’re true. If you’re making your way through the world of business and entrepreneurship, it only makes sense to read about the insights of people who have climbed that ladder before you. Trouble is, the modern workday doesn’t leave a lot […]
As much as some of us fear the loss of our jobs to robots, there’s one job we’re pretty sure they are welcome to: vacuuming. There’s nothing quite like kicking back and watching a robot vacuum do one of the most time-consuming tasks on the household chore list. And there are few ‘bots that do […]