Corporate Raider Targets AT&T Workers [telecom]

Vulture hedge fund Elliott Management is pushing for changes at AT&T that would lead to drastic job cuts, increased use of authorized retailers at AT&T Mobility and the sale of part of AT&T's existing wireline footprint.

In a statement opposing Elliott's plans, CWA President Chris Shelton said, "Elliott Management has taken the obsession with shareholder value to an extreme, pushing proposals that in the end benefit only a small subset of shareholders - themselves. Anyone who thinks that Paul Singer and Elliott Management intend to 'deliver far-reaching benefits' to AT&T's customers is not familiar with the destruction this vulture hedge fund leaves in its wake. Working people are putting the vultures on notice. We will no longer feed your greed."

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Bill Horne
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