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http://laborpress.org/att-broken-promises-on-american-jobs/
Before the Republican tax plan passed, AT&T CEO Randall Stephenson pledged that if the tax cut passed, the company would spend $1 billion in capital expenditures and create at least 7,000 jobs. Instead, the company has eliminated over 7,000 jobs. The company’s latest quarterly earnings report reveals nearly $10 billion in profits was used for stock buybacks rather than factory upgrades or adding employees.
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https://www.forbes.com/sites/eriksherman/2018/04/08/sorting-through-jobs-numbers-and-the-promise-of-the-tax-cut/#588bbe74f94c
The proffered reason for the tax cut passed last December that went into force January 1, 2018 was investment. The power of increased profits would fuel spending on jobs and capital.
So far, most of the money has gone to share buybacks to help boost stock prices
So much for that "trickle-down economics".
Originally posted by @vivifyAT&T is a GLOBAL company.
https://abcnews.go.com/Business/story?id=4690197&page=1
And that's "on top of a three-year plan to cut 10,000 jobs".
Thank God for those tax cuts, huh?
"Even with the reductions announced today, we expect our head count overall to remain stable this year as we hire additional employees to support growth areas like wireless and TV," said spokesman Michael Coe."
Originally posted by @mott-the-hoople"AT&T said the job cuts — affecting its wireline telephone business mostly in the United States"
AT&T is a GLOBAL company.
"Even with the reductions announced today, we expect our head count overall to remain stable this year as we hire additional employees to support growth areas like wireless and TV," said spokesman Michael Coe."
Originally posted by @vivify'When it announced the acquisition of BellSouth in 2006, it has said it would cut 10,000 jobs over three years from the combined company to eliminate overlap.'
"AT&T said the job cuts — affecting its wireline telephone business mostly in the [b]United States"[/b]
Do you understand employee overlap when acquiring a business?
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-Removed-You missed the point by a mile. The point is the bulls--t spit out by the GOP about how tax cuts benefiting the rich (at the expense of everyone else) were supposed to help create jobs, is an utter failure.
It was from the start.
And that's mainly because this was never about job growth. The tax cuts were always about Republicans bowing to their corporate masters.
Originally posted by @vivifyummm...record job growth ring a bell?
You missed the point by a mile. The point is the bulls--t spit out by the GOP about how tax cuts benefiting the rich (at the expense of everyone else) were supposed to help create jobs, is an utter failure.
It was from the start.
And that's mainly because this was never about job growth. The tax cuts were always about Republicans bowing to their corporate masters.
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Originally posted by @mott-the-hooplehttps://www.nytimes.com/2018/06/01/business/economy/jobs-report.html
ummm...record job growth ring a bell?
The "record job growth" is on a streak of 92 consecutive months. That's over 7 years.
You know what that means, don't you? I'll spell it out. The 7 year record of job growth we're currently in started under Obama, and is continuing because of his policies.
Let me spell it out even more: Trump's been president for only a year and a half. This means that the rest of the 5 1/2 years of "record" job growth was under...
wait for it.....
Obama.
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-Removed-What about them?
It's Republicans who are rolling back regulations (and bragging about it) that ensure ethical and safe business practices, just so their corporate masters can earn more profits.
Just look at the EPA, like when Trump-appointed Scott Pruitt rolled stopped a ban on Pesticides found to cause brain cancer in children. This was after meeting with a CEO of the same company that makes that same pesticide.