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AT&T Reports More Job Cuts, Massive Stock Buyback Plan

AT&T Reports More Job Cuts, Massive Stock Buyback Plan

News
October 31, 2019
As part of this week's quarterly earnings report, AT&T revealed that it had cut employment by 5,950 jobs during the third quarter of 2019, bringing the total cuts at AT&T since the corporate tax cut went into effect in January 2018 to 33,778.

AT&T’s New Financial Plan Caters to Wall Street and Leaves Customers and Employees Behind

Press Release
AT&T unveiled a new three-year plan focused on boosting share prices. The company’s commitment to spend free cash flow on stock buybacks, appoint new directors to its board, and review its portfolio with an eye toward selling off parts of its business puts the concerns of a few wealthy shareholders above serving customers by investing in the network and its employees.