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Tue May 14, 2019, 09:36 PM

AT&T promised 7,000 new jobs to get tax break--it cut 23,000 jobs instead

https://arstechnica.com/tech-policy/2019/05/att-promised-7000-new-jobs-to-get-tax-break-it-cut-23000-jobs-instead/

AT&T also cut capital spending despite promising $1 billion capital boost.

by Jon Brodkin

"SNIP......

AT&T has cut more than 23,000 jobs since receiving a big tax cut at the end of 2017, despite lobbying heavily for the tax cut by claiming that it would create thousands of jobs.

AT&T in November 2017 pushed for the corporate tax cut by promising to invest an additional $1 billion in 2018, with CEO Randall Stephenson saying that "every billion dollars AT&T invests is 7,000 hard-hat jobs. These are not entry-level jobs. These are 7,000 jobs of people putting fiber in ground, hard-hat jobs that make $70,000 to $80,000 per year."

The corporate tax cut was subsequently passed by Congress and signed into law by President Trump on December 22, 2017. The tax cut reportedly gave AT&T an extra $3 billion in cash in 2018.



.....SNIP"

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Reply AT&T promised 7,000 new jobs to get tax break--it cut 23,000 jobs instead (Original post)
applegrove May 14 OP
gratuitous May 14 #1
smirkymonkey May 14 #2

Response to applegrove (Original post)

Tue May 14, 2019, 09:45 PM

1. So what's AT&T's penalty for breaking its promise?

Do they have to give the money back? Executives going to jail? Just kidding! They get all the money and laugh at the rubes who handed it over so willingly and who still don't catch on even when it happens right in front of their faces.

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Response to applegrove (Original post)

Tue May 14, 2019, 09:51 PM

2. Of course they did.

Did anyone ever really think any of these corporations were really going to let their bonus go to the "little people"?

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