Companies that announced big bonuses after GOP tax cut are now laying off their workers

Last edited Sun Jan 7, 2018, 07:21 AM - Edit history (1)

Companies that announced big bonuses after GOP tax cut are now laying off their workers

Nice "trickle-down economics" you've got there.

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https://thinkprogress.org/companies-gop-tax-bonuses-layoffs-fdf07fdf90d2/?utm_campaign=trueAnthem:+Trending+Content&utm_content=5a51d3859ebbef00076809c3&utm_medium=trueAnthem&utm_source=twitter


At least two major companies that publicly announced large bonuses for their employees after the passage of a massive GOP-led tax overhaul — which represented a windfall for wealthy Americans and big corporations — quietly laid off hundreds of workers at the same time. Comcast laid off more than 500 sales employees right before Christmas, according to documents reviewed by media outlets including the Philadelphia Enquirer, Philly.com, and the Daily News. The documents were confirmed by at least one former Comcast employee who was not identified in the press.

AT&T is also in the process of laying off thousands of employees, according to the Communication Workers of America (CWA) union, which represents AT&T workers. CWA filed a lawsuit against the company claiming that some of those layoffs are needless, and that the timing of the terminations — just two weeks before Christmas — represents “an extraordinary act of corporate cruelty.”

Both telecommunications giants struck a very different tone in the aftermath of the tax bill that was rushed through Congress last month. Comcast and AT&T were among the businesses that claimed Republican lawmakers’ effort to restructure the tax code in favor of wealthy corporations would allow them to be more generous to their workers, and publicly announced $1,000 year-end bonuses for their employees. The CEOs of both companies specifically cited the tax bill in separate press releases touting these “special” bonuses.

But Larry Robbins, the vice president of CWA Local 4900, told the IndyStar that AT&T started privately notifying its workforce of impending layoffs at the same time as it publicly celebrated the benefits of the tax bill. “We believe the $1,000 bonus and the promise of 7,000 new jobs are all a publicity stunt,” Robbins said.


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