AT&T brought in a new CEO years ago. First day he laid off over 40,000 employees. Stock jumped. AT&T got Rump tax breaks a few months ago. Guess what? More layoffs first thing. Their service has sucked for years but their execs get big bucks for cutting staffing and consumer resources. They aren’t cutting edge, they’re cutting services. Other companies did this in the past, like Kodak and Xerox. Where are those companies now? Stockholders ended up getting boned too, not the rich ones or the corporate execs with stocks, just the little guys.
gopher gofer almost 5 years ago
personnel cuts are always tough…
Display almost 5 years ago
AT&T brought in a new CEO years ago. First day he laid off over 40,000 employees. Stock jumped. AT&T got Rump tax breaks a few months ago. Guess what? More layoffs first thing. Their service has sucked for years but their execs get big bucks for cutting staffing and consumer resources. They aren’t cutting edge, they’re cutting services. Other companies did this in the past, like Kodak and Xerox. Where are those companies now? Stockholders ended up getting boned too, not the rich ones or the corporate execs with stocks, just the little guys.