AT&T Reports More Job Cuts, Massive Stock Buyback Plan [telecom]

October 31, 2019

As part of this week's quarterly earnings report, AT&T revealed that it has cut employment by 5,950 jobs during the third quarter of 2019, bringing the total cuts at AT&T since the corporate tax cut went into effect in January 2018 to 33,778.

The company also announced a disturbing new three-year plan, committing to spend $30 billion on buying back its own stock to boost share prices. Instead of building toward the future by bringing next generation wireless and fiber broadband networks to all Americans, AT&T plans to use its massive profits to further enrich its largest investors.

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Bill Horne
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