U.S. presidential candidate Elizabeth Warren called on AT&T Inc to reject an act...
WASHINGTON - U.S. presidential candidate Elizabeth Warren called on AT&T Inc to reject an activist investor plan she said would lead to job cuts, staking out a different position than President Donald Trump who has cheered the investor’s involvement.
In a Twitter post on Thursday, Warren said she sided with union workers at the telecommunications and media conglomerate, who have criticized a plan submitted last month by AT&T activist investor Elliott Management Corp to boost the company’s profits. Such an approach would continue Trump’s own practice of publicly criticizing company decisions to let workers go.
The fund submitted a plan to AT&T’s board to make changes by selling off units, buying back shares or adding board members.submitted to the AT&T board did not explicitly describe a layoff plan but did call for"outsourcing of non-core network functions" as well as"closing redundant stores and increasing labor productivity."
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