Tue, Feb 2nd 2021 6:31am —
Karl Bode
You'd be hard pressed to find a sector that has benefited more from the Trump era than telecom. In the last four years, telecom monopolies not only received billions in tax cuts (AT&T nabbed an estimated $42 billion in tax breaks alone), they convinced the Trump administration to effectively neuter the FCC's consumer protection authority, a move arguably worth countless billions more. In both instances these perks were doled out under the auspices that this would drive hiring and network investment. In reality, not only did that
not happen, but the opposite happened.
Reports this week indicate that AT&T and Verizon alone have laid of 95,000 employees in just the last five years alone: