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 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.”
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.
Negotiators for the Communications Workers of America have reached a “handshake deal” with AT&T Southeast on a new collective bargaining agreement for more than 20,000 AT&T employees in nine states. CWA members returned to work at 1 p.m. EDT today after company representatives with authority to bargain came to the table on Monday.
A delegation of AT&T call center workers who are members of the Communications Workers of America (CWA) union met with leaders from the Unified Employees of Alorica (UEA) in Manila Friday in a show of solidarity.