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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.
30,000 Jobs at Risk As Billionaire Takes Aim at AT&T
News
October 17, 2019
Billionaire Paul Singer's hedge fund Elliott Management has bought shares of AT&T and launched a campaign arguing for the company to cut costs by laying off workers.
Companies Putting Shareholders Ahead of Workers are Harming our Communities
News
October 17, 2019
CWAers briefed members of Congress and their staff this week on how the recent rise of stock buybacks is harming workers, communities, and the whole economy.
30,000+ Family-Supporting Jobs at Risk if AT&T Accepts Elliott Management’s Destructive Proposals
Press Release
Research compiled by the Communications Workers of America (CWA) estimates that more than 30,000 family-supporting jobs will be at risk of elimination or a reduction in wages and benefits if AT&T’s leadership engages in the restructuring and divestitures proposed by Elliott Management and its CEO Paul Singer.
AT&T is Abandoning Puerto Rico and the U.S. Virgin Islands
Press Release
Just weeks after billionaire CEO Paul Singer’s Elliott Management Corporation announced that it had acquired about 1% of AT&T and laid out plans to extract profits from the company by cutting jobs and selling off critical assets, AT&T announced its intention to sell off wireless and wireline operations in Puerto Rico and the U.S. Virgin Islands to Liberty Latin America, a company with a history of union-busting and job cuts.