AT&T; Investors Appear Too Busy Celebrating to Care About People
- Share via
The news of AT&T; Corp.’s massive layoffs (“AT&T; Split Into 3 Firms to Cost 40,000 Jobs,” Jan. 3) “boosted investors’ confidence” so that the market jumped 60 points. My investor friends are exuberant. They are making a great profit.
I don’t think that the owners of stocks and bonds mean any harm to the 40,000 or so who are going to be fired. At the same time, I doubt whether a single investor will lose a single instant of sleep worrying about the welfare of the huge number who are losing their livelihoods.
The thoughtless euphoria of the investors is strange. Any damn fool should be able to see that if this trend continues, all hell will break loose.
QUENTIN C. STODOLA
Redondo Beach
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
