AT&T promised 7k new jobs to get tax break–it cut 23,000 jobs instead

AT&T in November 2017 pushed for the corporate tax cut by promising to invest an additional $1 billion in 2018, with CEO Randall Stephenson saying that “every billion dollars AT&T invests is 7,000 hard-hat jobs. A union analysis of AT&T’s publicly available financial statements “shows the telecom company eliminated 23,328 jobs since the Tax Cut and Jobs Act passed in late 2017, including nearly 6,000 in the first quarter of 2019,” the Communications Workers of America (CWA) said yesterday. Excluding employees gained via mergers, AT&T’s workforce dropped from 254,000 to 230,672, a cut of 23,328 jobs, the CWA report points out.

Source: arstechnica.com