Telecom Giants Are Laying Off Thousands After Saying Tax Cut Would Create Jobs: Report
Cable giant Comcast fired about 500 employees shortly after the passage of the controversial GOP Tax bill, despite claiming that the company would create thousands of new jobs in exchange for a big tax cut.
Comcast apparently tried to keep the firings secret while it lobbied for the tax cut that was eventually passed into law by the Republican-controlled Congress and signed by President Trump in late December.
The layoffs were revealed by Philly.com this week in an article based on information from an anonymous former employee, Comcast documents, and other sources in the company.
The publication’s headline notes that Comcast was able to implement the firings “quietly,” avoiding any press coverage until this week.
The 500 fired employees were “managers, supervisors, and direct sales people in Chicago, Florida, and other parts of Comcast’s Central region, mostly in the Midwest and Southeastern United States,” the report revealed.
According to Philly.com, Comcast explained the firings with this statement:
“The Central Division is creating a new territory-based sales model that will connect more closely with residential prospects and customers in their communities. By giving highly trained sales professionals direct responsibility for entire neighborhoods, we can provide a better experience for those who are interested in our services, during and after the sale.”
Comcast isn’t the only company whose actions contradict statements that workers would benefit from the corporate tax cut.
AT&T claimed that it would invest another $1 billion because of the tax cut and said that “research tells us that every $1 billion in capital invested in telecom creates about 7,000 good jobs for the middle class.”
However, the company is now laying off thousands of employees and is facing a lawsuit from a workers’ union that is trying to stop the mass layoffs.
And that’s the Republican tax cuts at work.