ATT was one of the companies Trump and our GFY red hats touted as sucess because they "promised" new jobs thanks to the tax cuts...
They got the tax cuts yet they didnt create any new jobs...
The MAGA promise....
"Lower taxes drives more investment, drives more hiring, drives greater wages," Stephenson said on CNBC's "Squawk Box." "All of this fits together."...For example, he said AT&T would have to add 7,000 jobs to execute on every $1 billion of capital investment. "There are jobs wearing hard hats … to put that capital into the ground or on cell towers," he said. "There are high-paying, really good jobs with great benefits. The correlation is tight — very, very tight."
The AT&T CEO said that reducing business regulations is another way to get companies to invest. Regulation is "effectively a tax on investment," he argued. "Take regulation down, you get investment up."
The reality....
"Though AT&T is earning record profits, spending billions on stock buybacks and is expecting an estimated windfall of $20bn in savings from Donald Trump’s tax reforms, it has continued to lay off workers and outsource jobs...In the last seven years, AT&T has closed 44 call centers, according to the Communications Workers of America labor union. Four closures, including the facility in Harrisburg took place this year. While some workers are able to relocate to other call centers in the US, many are left jobless. For some, their jobs are sent offshore, where workers can be paid less than $2 an hour."
They laid off thousands of US workers since getting the tax cuts.... they have sent US jobs off shore since getting their tax cuts.. essentially just like many other companies, ATT has simply used the profits of the tax cuts to buy back stock to increase the wealth of their executives while laying off their work force..
https://www.techdirt.com/articles/20...aporates.shtml
Make America Great Again, lock Trump up and deport Red Hats...