AT&T slashed billions from network spending, cut tens of thousands of jobs

Enlarge / An AT&T sign outside a company office in New York City. (credit: Getty Images | Roberto Machado Noa )

AT&T slashed capital expenditures by more than $1.6 billion in 2019 and projects a capital-investment cut of more than $3 billion in 2020.

AT&T's capital expenditures for the full year of 2019 totaled $19.64 billion, down from $21.25 billion in 2018, an AT&T investor briefing released yesterday said.

The broadband industry and Federal Communications Commission officials have used capital expenditures as a measure of broadband-network investment and have claimed that eliminating net neutrality rules and other regulations would cause such investment to rise. But some of the biggest ISPs, such as Comcast and Charter, have been reducing capital expenditures despite getting their sought-after net neutrality repeal and a large corporate tax cut.

Read 9 remaining paragraphs | Comments