AT&T Said Trump Tax Cuts Would Create Thousands Of Jobs. Instead, AT&T's Laying Off Thousands.

Gwad

https://www.techdirt.com/articles/20191211/10503943556/att-said-trump-tax-cuts-would-create-thousands-jobs-instead-atts-laying-off-thousands.shtml

It seems like only yesterday that AT&T CEO Randall Stephenson was promising on live television that if Trump followed through on his tax cuts, the company would dramatically boost investment, in the process creating thousands of new jobs. Not "entry-level jobs," mind you, but "7,000 jobs of people putting fiber in the ground, hard-hat jobs that make $70,000 to $80,000 per year." Each $1 billion in new investment, AT&T insisted, would result in 7,000 new jobs. "Lower taxes drives more investment, drives more hiring, drives greater wages," Stephenson said.

Yeah, about that.

Here on planet Earth, AT&T has revealed that the company's slated CAPEX for 2020 will actually be decreasing by about $3 billion next year. The company is also preparing to engage in a new round of significant job cuts as it fights off an ongoing investor revolt triggered by the company's bumbling obsession with merger mania, and a continued exodus of video subscribers caused by relentless price hikes and branding incompetence.

RaceBannon

The company is also preparing to engage in a new round of significant job cuts as it fights off an ongoing investor revolt triggered by the company's bumbling obsession with merger mania, and a continued exodus of video subscribers caused by relentless price hikes and branding incompetence.

I blame Trump

pawz

AT&T is the top candidate for pricking the corporate debt bubble.

This is not a surprise. But way to try to pin it on Trump. Good try, good effort!

Gwad

you culties take this shit too personally

2001400ex

But but but the repatriated funds and investment!!!

MikeDamone

If I like my ceteris paribus fallacy can I keep it?

WestlinnDuck

Their cable bet was called and they lost the hand. Has nothing to do with Trump, but bad management. The question would be how many would be laid off without the tax cut. Keep phu*cking that strawman. I heard that streaming services were expanding. Disney Plus, HBO Plus etc. Sounds like Disney is investing some of that tax savings. I know that you never learned this in school, because leftards don't do numbers and sh*t, but in a dynamic capitalistic society there will be winners and losers. The historic result has been that the winners exceed the losers and the standard of living goes up. Carriage makers go broke, auto makers get rich and wealth is created.

LoneStarDawg

I like to think a company with 268k employees, the majority unionized and working on aging business, needs to expand.

Pitchfork51

I'm hearing that if one shitty company goes under then policies that affect everyone are bad.

Cool. Now let's do Obamacare!

RaceBannon

Come on guys @Gwad didn't want any replies

Baseman

2001400ex said:

But but but the repatriated funds and investment!!!

And you believed a CEO of a company $180 Billion dollars in debt that way overpaid for Directv.

There are battles to fight. This isn't one of them

2001400ex

Baseman said:

2001400ex said:

But but but the repatriated funds and investment!!!

And you believed a CEO of a company $180 Billion dollars in debt that way overpaid for Directv.

There are battles to fight. This isn't one of them

I'm old enough to remember when ATT stroked Trump's balls and paid a bonus to employees right after the tax cut.

PandaOrangeChiknDuck

I find it funny Hondo has no idea how stock prices work

2001400ex

PandaOrangeChiknDuck said:

I find it funny Hondo has no idea how stock prices work

Oh really.

Baseman

2001400ex said:

Baseman said:

2001400ex said:

But but but the repatriated funds and investment!!!

And you believed a CEO of a company $180 Billion dollars in debt that way overpaid for Directv.

There are battles to fight. This isn't one of them

I'm old enough to remember when ATT stroked Trump's balls and paid a bonus to employees right after the tax cut.

Were you expecting them to say, "No, thanks." ?

2001400ex

Baseman said:

2001400ex said:

Baseman said:

2001400ex said:

But but but the repatriated funds and investment!!!

And you believed a CEO of a company $180 Billion dollars in debt that way overpaid for Directv.

There are battles to fight. This isn't one of them

I'm old enough to remember when ATT stroked Trump's balls and paid a bonus to employees right after the tax cut.

Were you expecting them to say, "No, thanks." ?

No. But they said they'd invest if given a tax cut. And here they are laying off people and reducing investment. To enrich the wealthy owners. Come on man, you are smarter than that.