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.
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.
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.
Republican members of the U.S. Senate voted last week to confirm President Trump's new pick for Labor Secretary, Eugene Scalia, who has made a career of representing big corporations in their efforts to dismantle workers' rights.
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.