With 42,000 Layoffs Since 2017, AT&T Plans Thousands More Layoffs At HBO, Time Warner
Since 2017, AT&T has received not only a $42 billion tax break courtesy of the Trump administration,
but billions more in regulatory favors from the Trump FCC, including the
repeal of net neutrality,
the erosion of much of the FCC's authority to police natural telecom monopolies, and
the elimination of broadband-specific privacy rules.
In exchange, AT&T promised thousands of "high paying jobs" and a massive e in investment.
Instead, AT&T fired more than 42,000 employees and trimmed its overall 2020 investment.
AT&T's now doing everything in power to trim its balance sheet. That includes plans to sell DirecTV for a huge loss, and thousands more layoffs across Time Warner, HBO, and other recently acquired properties:
"AT&T's WarnerMedia is restructuring its workforce as it seeks to reduce costs by as much as 20 percent as the coronavirus pandemic drains income from movie tickets, cable subscriptions and television ads, according to people familiar with the matter.
The overhaul, which is expected to begin in the coming weeks, would result in thousands of layoffs across Warner Bros. studios and TV channels like HBO, TBS and TNT, the people said.
The company's promise that the deal wouldn't result in price hikes for consumers? False.
The company's promise the deal wouldn't result in higher prices for compe ors needing access to essential AT&T content like HBO? False.
AT&T's promise they wouldn't hide Time Warner content behind exclusivity paywalls? False.
The idea that the merger would somehow create more jobs at the company? False.
Falsehoods that were all taxpayer subsidized and rubber-stamped thanks to regulatory capture.
https://www.techdirt.com/articles/20...e-warner.shtml
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Up next, airllines to layoff many 10Ks