American telecom giant AT&T has reaped major rewards from President Donald Trump's signature tax cut -- and now the company is laying off American workers despite pledging to use its tax windfall to create jobs.
According to Vox, some estimates have claimed that AT&T will save upwards of $42 billion over a decade from the tax cuts, which passed in 2017.
Despite this windfall, however, the company is preparing to slash American jobs this year.
Axios last week got hold of internal documents showing that "AT&T is poised to send thousands into the new year hunting for new jobs after assigning them to train their own foreign replacements," a year after the company "announced new and expanded alliances with big outsourcing companies to replace workers with foreign or cheaper domestic talent."
Trump made ending the offshoring of American jobs a centerpiece of his 2016 presidential campaign, but so far he has been totally silent about AT&T's plans to lay off workers after they train their foreign replacements.
Instead, he has publicly attacked the company for not doing enough to punish his enemies at CNN, which AT&T acquired in 2018 when it purchased Time Warner Media.
"Can’t believe AT&T keeps the management after yet another CNN ratings dive," the president wrote in a New Year's Day tweet. "Nobody watching, NO CREDIBILITY! Maybe they should make changes at AT&T?"
