https://www.breitbart.com/politics/...yoffs-coming-peoples-lives-severely-impacted/ Verizon has announced that they are laying off 1/4 of their American workforce to move those jobs overseas.......I thought that the “yuuugggeee tax breaks” that they got were going to “create massive jobs, and increase wages thruout the country”....... Instead, like anyone with half a brain said, corporations would take the money and run, AND THEY DID There are many sources of this story out there, but I thought I would post it directly for the right wings bible, Breitbart, so they couldn’t start yelling...”FAKE NEWS”.... I’m sure this thread will be crickets because I’m not really sure how the right can defend this now..
They aren't keeping money from tax cuts, they are seriously in debt with a new project underway so have to make that up somehow. But with a total debt of more than $114 billion, the carrier has limited flexibility to reach a healthy balance sheet while investing billions in capital expenditures (CapEx) to deploy its next-generation 5G Ultra Wideband network and 5G broadband Internet service, and pay higher dividends to shareholders: The 3 pillars (debt reduction, CapEx, dividends) of the company's strategy under new CEO Hans Vestberg. Nice try at Trump bashing however but this is purely a business decision.
But but ... all those retired folks - lacking a full time income - will eat more McDonalds which will create Jobs !
Verizon pays a 4.2% dividend - which is quite high. Kind of difficult to play the "financial hard ship - so much debt" card with a straight face when you are paying out that kind of dividend .. Just sayyin ...
For liberals: good economy is not when there are no layoffs and no failing businesses, it is when there are plenty of new businesses, new jobs and new opportunities. Thanks to Trump economy there are by far more job openings in the country than job seekers, businesses are competing for talent and offering higher wages, these Verizon people will get their generous severance and be gainfully employed in 3 weeks.
Yes it is but that's what the shareholders require and they are in charge, not Verizon. I wouldn't want to be in charge of that company with that amount of pressure I can tell you that. But it has nothing to do with taxes as the OP claims.
If true, that is not good!!! That said, tax breaks are never the pancea to making the economy grow for the long term, they tried this about 12 - 15 yrs ago, and it did nothing. With Verizon, I wonder if they are getting rid of their older employees so they can replace them with younger cheaper ones. IBM did the same recently, who claimed they would hire 25k workers, yet they just layed off about 20k, most over 40 yrs old. https://www.reuters.com/article/emp...-to-recruit-millennials-lawsuit-idUSL2N1W401K
But that would mean they need more people to install, troubleshoot, and maintain these systems. If we traded a bunch of low wage jobs for even a 1/4 as much in high tech jobs that a win in my book. There is and will still be plenty low wage jobs via deportations and limiting immigration.
Pretty much yes. When their new system's come online you can expect Verizon to be hiring a lot more people. But right now they have to make the shareholders happy by delivering their payout.
Democrats like Nancy Pelosi would tell you that when you lose your job it gives you more time to pursue arts and crafts.
Yeah tech companies are very shaky and volatile. So much competition not only in America but all across the globe and all the more reason why Trump is fighting so hard for preserving our intellectual property rights.
Seems to me conservatives were always complaining at the quality of jobs created in the Obama era. In fact the GOP ran on bringing back good paying manufacturing jobs of the kind the US lost by the millions since the 1970s. If the US did not have tech jobs...we'd have no jobs at all. Show me were Verizon's job losses are being replaced by good paying middle class manufacturing jobs.
Dude, what planet are you from? FIVE MILLION jobs created under president Trump, there is no unemployment, the wages are growing, there are millions more open positions than job seekers available, technical jobs are nearly impossible to fill, the employers are desperate for technical talent. WTF are you bleating about, these technical Verizon people will have 5 technical six digit job offers each to choose from in a matter of days... having collected huge severances of course. Duh
It’s ALWAYS a “business decision”....just like when the republicans gave them the tax break. It was a “business decision” to reward their donors. But like everyone said, that “reward” would not do what they said it would. Did the “debt” of $114 come from these capx projects ? Or was it debt that they already had. Oh wait, it didn’t matter, becasue they OUTSOURCED the jobs. Their not worried about debt, their worried about makingmore money. Debt is actually GOOD for companies, and most companies carry more debt than actuall equity on their balance sheets. Debt is a great way to lower your tax burden (Verizon’s 5 year average tax “burden” was -$28BIllion). Thats right, their average tax “refund” was $28 billion with a B And did you notice the “higher dividend to shareholders” part ? hmmmm, who could that be ? It’s not the holders of common shares I’m sure, but those who invested in a company with a very purposeful $114 billion in debt. They invested because that debt is GOOD
Yes, they will. But not before Verizon got their huge tax cut that you and your supported because “it would creat jobs that would pay MUCH more money”........dont worry Borat, your taxes will go to a good cause.....Verizons Executive staff. Just admit you were wrong about the tax breaks. It’s very simple
But Spanky promised me the tax cuts would bring all these jobs back to America. Did he lie to me? It's okay - break my heart if you must, but tell the truth.
