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.
In new Tunney Act comments filed today with the DoJ Antitrust Division, CWA assessed the Department’s proposed Final Judgment on the T-Mobile/Sprint merger and the announced divestiture deal with DISH.
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.
A solo semanas que el multi millonario CEO Paul Singer por medio de su empresa Elliot Management Corporation anunciara que adquirieron 1% de AT&T y estableció planes para extraer ganancias de dicha empresa por medio de recortes de trabajos y la venta de activos críticos, AT&T anunció su intención de vender las operaciones de línea fija e inalámbrica en Puerto Rico e Islas Vírgenes Americanas a Liberty Latino America, una empresa con una historia de atacar uniones y recortes de empleo.
In two letters publicly released today, the Communications Workers of America (CWA) is urging AT&T’s CEO, board of directors and largest investors and Business Roundtable to put a stop to controversial proposals from Elliott Management that CWA says will cut jobs and destroy long-term value and are the “archetype ploy of vulture capitalists.”
Scalia has made a career of representing big corporations in their efforts to dismantle workers’ rights and as Labor Secretary he will have even more power to weaken employment and health and safety protections for workers in order to further enrich already wealthy CEOs and large shareholders.
The Federal Communications Commission today announced that Sprint fraudulently received tens of millions of dollars in federal subsidies by falsely claiming it provided Lifeline service to 885,000 inactive subscribers.
This week, Elliott Management announced its plan to extract profits from AT&T by eliminating jobs and sending work to low-wage contractors, further enriching its billionaire founder and CEO Paul Singer. Adoption of these proposals will harm AT&T’s workers, customers and long-term investors, and the Communications Workers of America is firmly opposed to this strategy.