AT&T giving $1000 bonus to employees after tax reform bill is signed

Alicia Cross
December 21, 2017

In the wake of Congress passing a comprehensive tax reform bill, AT&T is planning to invest $1 billion in the United States in 2018 and pay 200,00 employees $1,000 bonuses. "Every $1 billion in capital invested in the telecom industry creates about 7,000 jobs for American workers, research shows".

"This is a capital-freeing event", AT&T Chief Executive Officer Randall Stephenson said of the tax bill at an Economic Club of NY luncheon on November 29.

The Justice Department allegedly told AT&T it would have to sell off CNN's parent company as a condition for the merger, which AT&T balked at. The union agreement, if signed by January 12, will afford 21,000 CWA union member employees a 10 percent raise and a $1,000 lump sum, in addition to the special $1,000 bonus announced this week. "So that's pretty good", he said.

"This tax reform will drive economic growth and create good-paying jobs", CEO Randall Stephenson said.

"We believe tax reform is good for our USA economy and are pleased to take these immediate steps to invest in our team members, communities, small businesses, and homeowners", said President and CEO Tim Sloan in a company release.

US President Donald Trump referred to AT&T's move in a speech celebrating the cuts, which were a key priority.

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Other companies have been more reluctant to promise any new investments or returns for workers as a result of tax cuts.

AT&T's $1 billion investment will go toward the company's fiber build in homes and businesses.

Boeing, however, said on Wednesday it will use some of its tax savings on employees.

Both the House and Senate passed the final version of the Republican tax bill on Wednesday, and a number of companies took the opportunity to announce special bonuses or pay hikes.

But with both parties set to sue the DoJ for blocking the merger because The Donald has a twitter beef with Don Lemon, AT&T has shifted gears and chose to just play along with the emotional needs of a government run by a egomaniacal adolescent.

Trump's Justice Department shocked the business world last month by suing to block the takeover of Time Warner.

Other reports by Free-Prsite

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