For anybody who remembers — 2017 was the year of tax cuts for the rich and for mega-businesses. Telco and content provider AT&T was indeed no different than others and received a wide-range of government favours as a result of said tax cuts. At the time of those tax cuts and their announcements, AT&T falsely claimed in a statement that the cuts would lead to vast improvements company-wide and for its employees.
None of those promises ever came to fruition.
“By immediately lowering the corporate tax rate to 20 percent, this bill will stimulate investment, job creation and economic growth in the United States,” AT&T CEO Randall Stephenson said at the time. “Research tells us that every $1 billion in capital invested in telecom creates about 7,000 good jobs for the middle class,” the CEO said in the original statement.
In fact, new earnings reports out this week from the company indicate that they boldly fucking lied and none of that ever happened. Investments in their network have actually steadily declined since the summer of 2016. Infamously, the Tax Cuts & Job Act signed into law by Donald Trump provided companies like AT&T humungous windfalls. It is estimated that the company based on their reports and the new corporate tax rate is set to rake in about $42billion.
According to statements provided to Vice, AT&T has fired more than 37k employees worldwide since the law was signed into action.
In the final quarter of 2019, 4,040 pink slips alone went out to employees unanimously up from previous quarters. AT&T has betrayed its customers; employees, and those who take part in the company.
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