At&t Regime....Slaughters 3400 employees jobs and 250 stores

A union representing AT&T employees says the company is planning to cut 3,400 technician and clerical jobs in the next few weeks and also close 250 retail stores, impacting 1,300 retail jobs.

Why it matters: While the cuts can't be separated from the COVID-19 impact on the economy, the moves also come as the mobile industry has consolidated from four national players to three following T-Mobile's acquisition of Sprint.

What they're saying: “If we are in a war to keep our economy going during this crisis, why is AT&T dismissing the troops?” Communications Workers of America president Chris Shelton said in a statement.

The stores facing closure are a mix of AT&T-branded locations and those of Cricket Wireless, AT&T’s prepaid brand, the union said.

CWA also noted that the cuts come after hedge fund Elliott Management took a $3.2 billion stake in AT&T last year.