While T-Mobile and AT&T continue efforts to seal their relationship, T-Mobile USA is setting aside cash in order to keep top employees on board should the deal go through. According to a Wall Street Journal report, T-Mobile has set aside $64 million dollars during the last two quarters, which earnings reports have listed as costs involving “primarily consisting of employee-relating expenses.”
A Deutsche Telekom spokesman said that the company is taking “precautionary action to keep top employees on board” resulting in this cash hoarding. AT&T originally planned to close the deal by March of 2012 but with the Department of Justice lawsuit still ongoing, they’ve pushed back the expected transaction close date a few more months.
Can we stop and consider for a moment what $64 million would do for the employees who are actually at risk of losing their jobs and livelihood should this deal go through? Oh right, close to 100,000 jobs will be added.
Wall Street Journal