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

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Andy Meek

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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.

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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.

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