![As AT&T Releases Q4 Earnings, CWA Denounces Ongoing Layoffs, Slashing of 11,000+ Jobs Since Tax Cut [telecom]](https://forums.cabling-design.com/media/25926/conversions/6039e1f8584429.61160645-medium.jpg)
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- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Today, as AT&T announced its Q4 earnings, the company faces calls for a Congressional investigation due to unfulfilled promises on jobs.
AT&T reported net profits of $19.4 billion for 2018 and is projecting free cash flow of $26 billion for 2019. The company sees steady growth in all its business units and increased profitability in wireless. Despite these strong results the company is making deep cuts in its workforce. Today's report shows that AT&T has eliminated 11,780 jobs in 2018 alone (see table below). AT&T is also on track to pay out three-quarters of its 2018 profits to shareholders in the form of dividends and share buybacks.
Members of the Communications Workers of America, who are bargaining with the company for a new contract in the Midwest and Legacy T units, have serious concerns about the company's gutting of good, family-supporting jobs.