AT&T will hire 5000 if T-Mobile deal gets approved
If the AT&T/T-Mobile deal goes through, it could actually mean huge job creation, something that's not very typical for a corporate merger like this.
AT&T released a statement in which CEO Randall Stephenson noted that the merger would allow the company to actually sever its outsourcing deals and bring customer service jobs to the US again.
That's something that both job seekers and AT&T customers - habitually unsatisfied with the company's existing customer service - could appreciate.
"At a time when many Americans are struggling and our economy faces significant challenges, we're pleased that the T-Mobile merger allows us to bring 5,000 jobs back to the United States and significantly increase our investment here. This merger and today's commitment are good for our employees, our customers and our country," said Stephenson.
Of course, the deal is all contingent upon regulatory approval in the US. The Federal Communications Commission and the US Department of Justice both need to approve of the offer and must agree that it would not substantially reduce competition in the mobile space.
AT&T and T-Mobile are the only major mobile operators in the US that run on a network standard known as GSM. By combining into one company, it could present a monopolistic corporation. The new company would also be bigger than Verizon or Sprint. Much bigger.
The statement from Stephenson appears to be appealing directly to those regulatory approval powers, saying that instead of taking away jobs, it would be adding thousands.
Some critics have said there is no way the merger will be approved, but antitrust laws are murky, especially in this scenario. It's going to be an interesting fight.
The Justice Department has filed a civil antitrust lawsuit in federal court to prevent AT&T, which has the second most subscribers in the country, from acquiring T-Mobile.
According to the DoJ, the acquisition would "substantially lessen competition for mobile wireless telecommunications services across the United States, resulting in higher prices, poorer quality services, fewer choices and fewer innovative products for the millions of American consumers who rely on mobile wireless services in their everyday lives."