AT&T promised 7,000 new jobs to get tax break, but it cut 23,000 jobs instead [telecom]

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

By Jon Brodkin

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."

Bill Horne
(Remove QRM from my email address to write to me directly)

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