Democracy Dies in Darkness

Corporate mergers hurt workers — and drag down the job market

Mergers don’t just harm consumers. They’re often bad for employees, too.

Perspective by
Sarah Miller is the executive director and founder of the American Economic Liberties Project.
October 21, 2021 at 6:00 a.m. EDT
AT&T’s acquisition of Time Warner resulted in a $400 million payout for Time Warner’s CEO, while 45,000 workers lost their jobs. (Richard Drew/AP)

One Friday in late July, nearly 1,500 people lost their jobs, all at once.

The pharmaceutical plant where they worked was a cornerstone of the local economy in Morgantown, W.Va. And then, in a wink, it was gone.

In Denver, 160 oil and gas workers recently lost their jobs. In Meridian, Idaho, more than 300 people’s jobs at a small defense manufacturing company will soon disappear. In Bridgeport, Conn., families are bracing for nearly 700 people to be let go from People’s United Bank. Three-thousand people recently saw their jobs with health insurer Centene evaporate, while nearly twice as many workers were turned out from T-Mobile.