When it comes to AT&T. there’s only one audience that really matters: President Trump.
On one hand there’s the $85.4 billion acquisition of Time Warner the Trump Justice Department is holding up in court. On the other are huge tax cuts and the rollback of Net Neutrality regulations, both of which will be undisputed windfalls for the company. Both hands, regardless of size, belong to Trump.
Which is why AT&T rushed to lavish praise on the President for “creating jobs” while simultaneously laying off thousands of workers across the country. The reality of Americans losing their livelihoods is nothing compared to keeping up the theater that makes the leader look — and more importantly feel — good in front of the cameras.
Which explains, at least in part, why AT&T announced that thanks to Trump’s tax cuts the company would be giving employees $200 million in bonuses, while simultaneously issuing thousands of pink slips to workers across the country.
Here’s what AT&T CEO Randall Stephenson said on December 20 following the tax legislation being passed, according to CNBC.
“Congress, working closely with the president, took a monumental step to bring taxes paid by U.S. businesses in line with the rest of the industrialized world,” Randall said. “This tax reform will drive economic growth and create good-paying jobs.”
Sounds nice, but AT&T is set to eliminate thousands of jobs, many in the states that voted to elect Trump. There’s the 600 workers notified they were losing their jobs across the Midwest on December 16, according to Newsweek, which also reported layoffs of 700 DirectTV home installers, 215 technicians across nine states in the South and 700 workers losing their jobs in Texas and Missouri. That brings the the rough total number of layoffs at AT&T to more than 2,000, that we know about.
But at least Trump got to brag and act like he was saving jobs.
“This just came out. … AT&T plans to increase U.S. capital spending $1 billion and provide $1,000 special bonus to more than 200,000 U.S. employees, and that’s because of what we did,” Trump said during remarks at the White House, according to Politico.
Enjoy those bonuses folks. Wonder how many jobs this $200 million White House publicity stunt could have saved?
Featured image: AT&T