AT&T Layofffs and tax cuts

As AT&T hails tax cut with bonuses for some workers, it hands pink slips to others.

AT&T hailed the passage of the tax cut bill in Congress on Wednesday by announcing $1,000 bonuses to about 200,000 workers.

200,000 workers x 1000 US dollars = 200 millions dollars 

The telecommunications giant is also quietly laying off hundreds of others.

AT&T announced that once the tax bill is signed into law it would add $1 billion to its capital budget and “pay a special $1,000 bonus to more than 200,000 AT&T U.S. employees — all union-represented, non-management and front-line managers.”

“This tax reform will drive economic growth and create good-paying jobs,” AT&T chief executive Randall Stephenson said, according to CNBC.

But The New York Post reports the company has laid off more than 700 DirecTV technicians. Said an AT&T spokesman: “We continue to align our workforce with the changing needs of the business. This includes some premises technician jobs.”

Fox4 said the layoffs affect five states, including Missouri. The others are Wisconsin, Michigan, Indiana and Ohio. It is not clear how many workers in the Kansas City area are affected.

“This is a difficult pill to swallow,” Joseph Blanco, president of Local 6360 Communication Workers of America, told the TV station.

AT&T says it plans to cut about 4,600 jobs, or 1.5% of its workforce, to shift resources to growing parts of its business.

The job cuts, which are on top of a three-year plan to cut 10,000 jobs announced at the end of last year, come as it faces declining traditional phone sales and rising costs for deploying new, high-speed Internet and video services.

1 billion - 200 millions = 800 millions dollars for AT&T fat cats + (4600 workers x each worker salary)

The tax bill cut corporate taxes from 35 percent to 21 percent. AT&T’s current tax rate is 32.7 percent.

will the average American tax payer get a permanent 14% tax cut

Schumer, at a press conference on Wednesday, argued that the Republican tax reform bill will only increase corporations’ profits while doing nothing to benefit the average American worker...Oops. 

The New York Democrat added, “Tax breaks don’t lead to job creation. They lead to big CEO salaries and money for the very, very wealthy.”.

In the grand scheme of things, these bonuses represent  a fraction of what these corporations stand to make

Only the misinformed or blind party puppets actually think that tax cuts lead to job creation.

Anyone with even ONE semester of business study knows this is a phony pathetic useless concept.

Businesses hire based on demand for their services, not for any other reason. Hiring because you have more money but not the demand to actually use the labor you are hiring would mean these businesses are not capable of entry level analysis and I would short those public companies for the mere incompetence of that management team.

But blind morons will listen to the politicians (who are also lacking in business accumen obviously) because they are too lazy to figure out if these words are actually real or not. 

And spare me any reply of "these tax cuts will put more money into the hands of consumers and will drive demand" that is insulting to any intelligence I or others might have. The tax cuts are going to the top as they always do and the elite are not going to rush out and buy lower/middle class goods and services because they have more money in the bank. There is little to no history to prove that trickle down works. It failed when that dope Reagan tried, he had to raise taxes because deficits went through the roof (as they will here as well) and it will not work now.

I worked on my reading comprehension before posting the following. Why was/is it better for me not to have more of the money I earn  in my pocket? With my lack of reading comprehension this seem to be a very difficult concept to understand.

I think you need to have a tutor, the issue isnt you being better off having more money in your pocket, do you understand why this tax scam legislation is not at all about YOU or any little guys like us having more money?

Politicians are slaves to corps and special interests..thats why most any piece of legislation takes up hundreds of pages and is filled with putrid add on garbage...because they sneak in perks for those whom they owe their existance. This tax throw up does little to nothing for the smaller player especially when you add back the COST of the "tax break" because we as tax payers are the ones who will pay for future deficits...just like how it happened with Unkie Ronnie.

From my tutor wall. From my tutor. Why didn't the Dems throw their arms up in despair for 8 years while O spent 10T more than he brought in ? Now all of a sudden a 'supposed' and I mean 'supposed' 1.5T in deficit spending is an issue.

Ha I am no tutor and if I was to you I am failing miserably. 

I am not too surprised you are falling back on Obama blaming again, it is your usual tactic, but that point has been addressed many times. There is some reality that irregardless of the POTUS that we allow lobbyists and corps to own our political process, so yeah it does not matter Trump or Obama or Bush or Clinton, the fact is when we make it such a high bar to be elected financially speaking the politicians OWE for the money they get, and those IOU's get called when in office, that is reality. We allow the process to be destroyed by corporate greed and theft. That will likely never change.

I have said this many times, if the reality is our tax dollars are being chewed up by special interests, I would rather that money be dispersed to the lowest on the income chain vs the highest. That is very tough to do because lobbyists represent the elite, the little guy has nobody to represent them...nobody. I would say the only politician I can name that would give a fair shot to the little guy is Bernie Sanders. I dont know of any other who has the focus of the little guy.

Sharp logic...yeah I am P-O-S-I-T-I-V-E that the guys T are letting go are those marketers in Walmart, you know since they are marketers and are sales people...and that is the same as a technician right? The job is union and so it must be low skill, so after those Walmart sales guys do 4 hrs at a store, then THEY go and install the stuff they sell. Makes sense....good logic!