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.
On a National Day of Action on Wednesday, hundreds of CWA members across the country made phone calls to Congress to pressure them to pass the PRO Act.
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.
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.
Elliott Management purchased about 1% of AT&T's stock and announced plans last month to extract profits from the company by cutting jobs and selling off critical assets.
When workers stand together to organize, mobilize, and strike we can build power and win the wages, benefits, and working conditions we need and deserve.
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.
"We are dismayed that President Trump's appointees to the NLRB have overruled Judge Steckler's determination that T-Mobile created an illegal company-controlled workplace organization called T-Voice."
The new agreements provide wage increases of 13.25% over the life of the contracts, pension and 401(k) plan enhancements, improved job security and additional customer service positions.
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.
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