CWA says AT&T is poised to repeat the bad behavior it showed during Trump’s first term
December 23, 2024

CWA says AT&T is poised to repeat the bad behavior it showed during Trump’s first term

It is common for unions to be dissatisfied with the companies they represent for the employees they represent. So does the Communications Workers of America (CWA), which supports workers in a variety of industries, including telecommunications. Several recent announcements AT&T Let CWA be armed. First, Saturday AT&T Received FCC approval to discontinue landline telephone service over copper wire and DSL technology in rural Oklahoma. The latter transmits digital data over traditional copper wires.
at the same time, AT&T Announced plans to return $40 billion to shareholders through stock buybacks and dividends over the next three years. Buybacks reduce the number of shares outstanding and theoretically increase the value of shares to existing shareholders. CWA argued the company was enriching shareholders rather than improving phone and data services in rural America. CWA calls this ‘short-sighted approach’ This helps wealthy investors while helping rural and AT&T Employees suffer.

but AT&T Chief executive John Starkey told his rural customers there was nothing to worry about as landlines were no longer in use. The CWA said the executive said that if President-elect Trump follows through on his promise to cut corporate taxes, AT&T Investment in corporate infrastructure will be increased. this doesn’t look good AT&T Because no matter what Trump does, the company plans to return $40 billion to shareholders.

China Water Affairs Bureau pointed out AT&T He has proven himself untrustworthy in this situation. During Trump’s first term, AT&T Support the president’s corporate tax cuts. Instead of using the savings to improve services in rural America, the union said: AT&T It reduced capital investment spending, laid off tens of thousands of employees, and announced a $30 billion stock buyback. See the similarities?

At the beginning of this month, AT&T Announced that landline service will be discontinued in nearly all states, with the goal of removing all copper wires by 2029. AT&T Says the copper wire infrastructure used for landlines is outdated and costly to operate. The company says it can provide better telecommunications services to customers using wireless and fiber broadband. Some consumer advocates say seniors and others who can’t afford cellphones or don’t know how to use them should be allowed to continue using landlines.

But that’s not the real question. The question is whether AT&T More could be achieved for customers and employees by spending $40 billion to improve other aspects of its network and services, rather than spending $40 billion to prop up stocks that might be in every company’s portfolio AT&T Management staff.

2024-12-23 22:00:45

Leave a Reply

Your email address will not be published. Required fields are marked *