WASHINGTON: US 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.
Such an approach would continue Trump's own practice of publicly criticizing company decisions to let workers go. Elliott Management, a hedge fund, unveiled last month a US$3.2 billion stake in AT&T, the second-largest US wireless carrier, and urged it to end its acquisition spree and focus on improving its business.
The document 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 labour productivity."
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