{"id":4514,"date":"2020-03-05T20:33:00","date_gmt":"2020-03-06T04:33:00","guid":{"rendered":"http:\/\/www.cwa9003.org\/?p=4514"},"modified":"2020-03-05T20:33:03","modified_gmt":"2020-03-06T04:33:03","slug":"att-plans-to-slash-jobs-as-part-of-multi-billion-cost-cutting-effort","status":"publish","type":"post","link":"http:\/\/www.cwa9003.org\/?p=4514","title":{"rendered":"AT&T plans to slash jobs as part of multi-billion cost-cutting effort"},"content":{"rendered":"\n

AT&T will look to cut tens of billions of dollars in\ncosts over the next few years, including job cuts in the near term, AT&T\npresident John Stankey said\nat a Morgan Stanley conference<\/a> this week.<\/p>\n\n\n\n

Why it matters<\/strong>: Critics were quick to point out that AT&T’s\ncost-cutting plans come despite previous promises to increase investment and\ncreate jobs as part of the case for corporate tax cuts and the easing of net\nneutrality rules.<\/p>\n\n\n\n

Driving the news:<\/strong>\nSpeaking at the Morgan Stanley Technology, Media & Telecom Conference on\nTuesday, Stankey said that the company has been focused on “10 broad\ninitiatives that we believe can generate double digits of billions over a\nthree-year planning cycle.”<\/p>\n\n\n\n

The\nefforts are roughly evenly split into those taking place over the next 12\nmonths, those that will take one to two years, and those that will take more\nthan two years.<\/p>\n\n\n\n

Headcount\nreduction is part of the first year’s cost-cutting efforts, Stankey said, with\nopportunities in call centers and other areas.<\/p>\n\n\n\n

The company plans to focus DirecTV on areas with few\nbroadband options, with its recently\nlaunched AT&T TV<\/a> as the focus for live TV customers\nelsewhere.<\/p>\n\n\n\n

What they’re saying<\/strong>:\nAn AT&T spokesman noted that the company invested more than any other\ncompany in the U.S. between 2014 and 2019, including 20% more in capital\nexpenditures than Verizon.<\/p>\n\n\n\n

As for the tax cut pledge, a representative said,\n“When tax reform was enacted in late 2017 we announced our intent to\ninvest an additional $1 billion in the U.S. in 2018, and we met that\ncommitment.”<\/p>\n\n\n\n

Yes, but:<\/strong> AT&T plans to spend in the “$20 billion\nrange” on capital expenses this year, down from $23.7 billion last year\nand $23.2 billion in 2018.<\/p>\n","protected":false},"excerpt":{"rendered":"

AT&T will look to cut tens of billions of dollars in costs over the next few years, including job cuts in the near term, AT&T president John Stankey said at a Morgan Stanley conference this week. Why it matters: Critics … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4514","post","type-post","status-publish","format-standard","hentry","category-articles"],"aioseo_notices":[],"_links":{"self":[{"href":"http:\/\/www.cwa9003.org\/index.php?rest_route=\/wp\/v2\/posts\/4514","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.cwa9003.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.cwa9003.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.cwa9003.org\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/www.cwa9003.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4514"}],"version-history":[{"count":0,"href":"http:\/\/www.cwa9003.org\/index.php?rest_route=\/wp\/v2\/posts\/4514\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.cwa9003.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.cwa9003.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4514"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.cwa9003.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}