AT&T employees receiving $1000 bonuses after tax vote

Adjust Comment Print

While the bonus announcement was new, the planned additional investment wasn't -AT&T announced on November 8 that it would step up USA investment by $1 billion if a tax bill passed.

"Once tax reform is signed into law, AT&T plans to invest an additional $1 billion in the United States in 2018 and pay a special $1,000 bonus to more than 200,000 AT&T US employees - all union-represented, non-management and front-line managers", the company said in a statement, adding that if the bill is signed before Christmas it will pay bonuses "over the holidays".

The telecom giant also said it would increase its capital expenditures budget by $1 billion in response to the landmark legislation, which cuts the corporate tax rate from 35 to 21 percent.

In a televised speech Wednesday in Washington, D.C., Mr. Trump praised the company's move.

Fifth Third Bancorp said it would raise its minimum hourly wage for all employees to $15, with 3,000 hourly employees benefiting from the hike. CWA officials also reached out to CEOs at other corporations where its members work, like Verizon and American Airlines, to make their case.

Stephenson has averaged a bonus of about $5.2 million over the past three years. As BuzzFeed pointed out, the company made the same announcement in 2011, also alongside a president - Barack Obama.

US Vetoes UN Security Council Resolution Voiding Trump's Jerusalem Move
US policy had held that the status of Jerusalem is an issue to be decided in peace talks between Israeli and Palestinian leaders. The draft resolution also called upon all countries to refrain from establishing diplomatic missions in Jerusalem.

They added that the $1,000 bonus was "a drop in the bucket compared to what was promised". "If the President signs the bill before Christmas, employees will receive the bonus over the holidays".

At least four major companies are building goodwill in the wake of President Donald Trump's tax cuts by finding ways to pass along some of their likely savings to employees. However the fundamental objection from the White House is widely believed to be Time Warner subsidiary CNN's critical coverage of Trump.

The Time Warner/AT&T merger, which has been in talks for more than a year, "seemed destined to close by the end of the year", according to The New York Times.

The Department of Justice cited concerns that the merged companies could charge unfair fees to consumers. The Justice Department is now suing to block a proposed $85 billion merger between AT&T and Time Warner, a deal Trump has objected to as "not good for the country".

AT&T spent about $23 billion building out its infrastructure in 2016, and estimates earlier this summer suggested the company was on track to spend $22 billion in 2017. If the companies don't extend the deadline, AT&T must pay Time Warner a $500 million breakup fee.

Comments