Tax Cut Beneficiary, AT&T, Reportedly Planning To Lay Off 7,000 Employees

For a company that claimed tax cuts would lead to more jobs, AT&T might be letting employees go instead.

Ars Technica reports:

“AT&T is reportedly planning a significant round of layoffs, despite receiving a large tax break and various regulatory favors such as the repeal of net neutrality rules.

Motherboard reported the pending layoffs yesterday, saying it obtained the information from AT&T internal documents and an anonymous AT&T source.

‘A source at AT&T who asked to remain anonymous because they were not authorized to speak publicly told Motherboard that company leadership is planning what it’s calling a ‘geographic rationalization’ and employment ‘surplus’ reduction that will consolidate some aspects of AT&T operations in 10 major operational hubs in New York, California, Texas, New Jersey, Washington State, Colorado, Georgia, Illinois, Missouri, and Washington, DC,’ the news site reported.

AT&T expects to finalize specifics of the layoffs later this month, but it already briefed managers on the plan in an internal memo last week, Motherboard wrote.

‘To win in this new world, we must continue to lower costs and keep getting faster, leaner, and more agile,’ AT&T Technology and Operations President Jeff McElfresh reportedly told employees in the memo. ‘This includes reductions in our organization, and others across the company, which will begin later this month and take place over several months.'”

For the rest of the story, visit Ars Technica here.

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