Unions Squeeze Companies to Divulge Plans for Tax Bill Windfall
Source: Bloomberg
Unions are pressing companies they bargain with to disclose details of what they’re doing with savings from the Trump tax cuts, the latest move by organized labor to pressure corporations to pass along their windfall from the overhaul.
Four unions have recently filed formal information requests with 11 companies, including American Airlines Group Inc., AT&T Inc., and PepsiCo Inc. subsidiary Frito-Lay, requesting disclosure of the firms’ plans for the extra cash freed up by the tax cuts. The labor groups say failure to comply could lead to the filing of complaints with the National Labor Relations Board, which enforces the federal labor law requiring companies to provide unions that represent their employees with information germane to collective bargaining.
“President Trump and the Republican Congress promised that billions of dollars in corporate tax giveaways would ultimately raise wages and brings jobs back from overseas, but a union contract is the only way to get that promise in writing,” Communications Workers of America President Chris Shelton said in a statement. “Working people deserve to know how their employers plan to spend their tax savings so they can bargain for a fair share of the windfall and ensure that corporations do more to bring jobs home and improve pay and benefits.”
Along with CWA, which is currently in negotiations with American Airlines subsidiaries Piedmont Airlines and Envoy Air, and with AT&T, the unions sending the requests are the Service Employees International Union, the American Federation of Teachers and the Teamsters. The companies they’re targeting include long-term care providers, for-profit health corporations, and XPO Logistics.
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Read more: https://finance.yahoo.com/news/unions-squeeze-companies-divulge-plans-134438585.html
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Some of the job creators announced layoffs right after the tax cuts also. Because job creators just need more money and they will happily create more jobs. 