Trump says Sprint, OneWeb to create 8,000 U.S. jobs
U.S. President-elect Donald Trump on Wednesday said telecommunications group Sprint Corp and a U.S. satellite company OneWeb will be bringing 8,000 jobs to the United States, celebrating the moves as a result of optimism associated with his election.
It was unclear how the 8,000 jobs are related to a $50 billion investment announced in December by Japan's SoftBank Group Corp, which is associated with both companies. SoftBank's head, billionaire businessman Masayoshi Son, said at the time his investment would create 50,000 jobs.
"I was just called by the head people at Sprint and they are going to be bringing 5,000 jobs back to the United States, they are taking them from other countries," Trump told reporters outside his Mar-a-Lago estate in Florida.
"And also OneWeb, a new company, is going to be hiring 3,000 people. So that's very exciting," he added.
OneWeb Ltd on Dec. 19 announced it had raised $1.2 billion and planned to use the funds to build a plant in Florida to produce low-cost satellites, creating almost 3,000 jobs over four years.
Sprint Corp is 82 percent owned by SoftBank and SoftBank has agreed to invest $1 billion in OneWeb.
Sprint did not immediately respond to requests for comment about the jobs mentioned by Trump. Sprint shares ticked down about 0.3 percent in after-hours trading.
Since winning election last month, Trump has become personally involved in a series of company issues, including intervening to curb the number of jobs being sent to Mexico by United Technologies Corp's Carrier unit.
A wealthy New York businessman, Trump pledged during his White House campaign to do more to protect workers' interests.
During his campaign, Trump singled out numerous companies for criticism, including Ford Motor Co, Amazon.com Inc , Apple Inc, H&R Block Inc, Mondelez International Inc and Starbucks Corp.
Trump takes office on Jan. 20.
8,000 U.S. jobs? Trump takes credit for Sprint, start-up decisions
SAN FRANCISCO — President-elect Donald Trump on Wednesday said telecommunications giant Sprint is moving 5,000 offshore jobs back to the United States and OneWeb, a satellite Internet start-up, is adding 3,000 more jobs in the U.S.
The jobs were made possible, Trump said, through Softbank CEO Masayoshi Son, a Japanese billionaire and technology investor, who met with Trump in New York earlier this month. After that meeting, the two businessmen announced Softbank would invest $50 billion in the U.S. and create 50,000 jobs.
Softbank owns 80% of Sprint and this month it invested $1 billion in OneWeb, a venture that intends to offer affordable Internet access. Son called the investment a "first step" in his commitment to Trump.
"Because of what's happening and the spirit and the hope, I was just called by the head people at Sprint and they're going to be bringing 5,000 jobs back to the United States and taking them from other countries," Trump told reporters at his Mar-a-Lago estate in Palm Beach, Fla.
"They're bringing them back to the United States and Masa and some other people were very much involved in that so I want to thank them," Trump said. "And OneWeb, a new company, is going to be hiring 3,000 people and that's very exciting."
It is unclear where the 8,000 jobs will be based and if they are part of Softbank's 50,000 jobs plan.
In his presidential campaign, Trump vowed to create or bring back jobs to the U.S. Earlier this month, he announced a controversial deal to keep furnace manufacturer Carrier from outsourcing about 1,100 jobs to Mexico. Carrier will get $7 million in state tax incentives to keep the jobs in Indiana.
Son, who became a billionaire through investments in Japan and China, is in the midst of raising a $100 billion investment fund with Saudi Arabia and others.
Donald Trump Claims Sprint To Create 5,000 Jobs ' Because of Me'
President-elect Donald Trump today touted the creation of 8,000 jobs in the U.S., but the two companies involved in those plans say the positions are part of a Japanese technology company’s previous pledge to create 50,000 jobs in the country.
Speaking to reporters at his Mar-a-Lago estate in Florida today, Trump announced telecommunications company Sprint will bring 5,000 jobs “back” to the U.S. while technology start-up OneWeb would create 3,000 jobs here.
“I was just called by the head people at Sprint and they are going to be bringing 5,000 jobs back to the United States,” Trump said. "Also OneWeb, a new company is going to be hiring 3,000 people so that is very exciting.”
“Because of me they’re doing 5,000 jobs in this country,” Trump later said of Sprint’s decision.
Sprint and OneWeb tell ABC News the jobs Trump referenced are part of Japanese technology company SoftBank’s previously announced commitment to create 50,000 jobs.
On December 6th, Trump met with SoftBank founder and CEO Masayoshi Son, who announced his company would invest $50 billion in the U.S. and create 50,000 jobs. In an interview with the Wall Street Journal at the time, Son said the investment would come from a $100 billion investment fund SoftBank established with a series of partners, including Saudi Arabia’s government-owned investment fund.
SoftBank has deep ties to both Sprint and OneWeb. SoftBank holds a majority stake in Sprint and has promised to investment $1 billion in OneWeb.
Sprint said the company will “create or bring back” 5,000 jobs to the U.S. across the organization, including in its Customer Care and Sales teams. Earlier this year, Sprint cut 2500 jobs, mostly at customer care centers, as part of an effort to reduce costs.
“We are excited to work with President-elect Trump and his administration to do our part to drive economic growth and create jobs in the U.S.," Sprint CEO Marcelo Claure, who phoned Trump today, said. “We believe it is critical for business and government to partner together to create more job opportunities in the U.S. and ensure prosperity for all Americans."
A Sprint spokesperson tells ABC News "the 5,000 jobs are part of the 50,000 jobs that Masa Son announced a few weeks ago but these jobs will be funded by Sprint, not SoftBank.”
OneWeb, which is developing a network of satellites to provide global broadband access, had previously announced SoftBank would invest $1 billion in its company. The company said that investment would help construct a satellite manufacturing facility in Exploration Park, Florida and could create 3,000 new jobs across the U.S.
Greg Wyler, founder and chairman of OneWeb, said the 3,000 jobs his company will create are part of SoftBank's initial 50,000 jobs pledge.
Wyler said Son agreed to invest in his company prior to the investor’s December meeting with Trump, but after that meeting, Son decided to increase the investment in OneWeb to $1 billion. Wyler would not discuss what Son's initial investment promise entailed.
Wyler said Trump "played a role in Masa Son's excitement" and said Son's decision to increase his investment was part of his "drive towards achieving his promise to Trump."
It was unclear how the 8,000 jobs are related to a $50 billion investment announced in December by Japan's SoftBank Group Corp, which is associated with both companies. SoftBank's head, billionaire businessman Masayoshi Son, said at the time his investment would create 50,000 jobs.
"I was just called by the head people at Sprint and they are going to be bringing 5,000 jobs back to the United States, they are taking them from other countries," Trump told reporters outside his Mar-a-Lago estate in Florida.
"And also OneWeb, a new company, is going to be hiring 3,000 people. So that's very exciting," he added.
OneWeb Ltd on Dec. 19 announced it had raised $1.2 billion and planned to use the funds to build a plant in Florida to produce low-cost satellites, creating almost 3,000 jobs over four years.
Sprint Corp is 82 percent owned by SoftBank and SoftBank has agreed to invest $1 billion in OneWeb.
Sprint did not immediately respond to requests for comment about the jobs mentioned by Trump. Sprint shares ticked down about 0.3 percent in after-hours trading.
Since winning election last month, Trump has become personally involved in a series of company issues, including intervening to curb the number of jobs being sent to Mexico by United Technologies Corp's Carrier unit.
A wealthy New York businessman, Trump pledged during his White House campaign to do more to protect workers' interests.
During his campaign, Trump singled out numerous companies for criticism, including Ford Motor Co, Amazon.com Inc , Apple Inc, H&R Block Inc, Mondelez International Inc and Starbucks Corp.
Trump takes office on Jan. 20.
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| Photo: Evan Vucci, AP |
SAN FRANCISCO — President-elect Donald Trump on Wednesday said telecommunications giant Sprint is moving 5,000 offshore jobs back to the United States and OneWeb, a satellite Internet start-up, is adding 3,000 more jobs in the U.S.
The jobs were made possible, Trump said, through Softbank CEO Masayoshi Son, a Japanese billionaire and technology investor, who met with Trump in New York earlier this month. After that meeting, the two businessmen announced Softbank would invest $50 billion in the U.S. and create 50,000 jobs.
Softbank owns 80% of Sprint and this month it invested $1 billion in OneWeb, a venture that intends to offer affordable Internet access. Son called the investment a "first step" in his commitment to Trump.
"Because of what's happening and the spirit and the hope, I was just called by the head people at Sprint and they're going to be bringing 5,000 jobs back to the United States and taking them from other countries," Trump told reporters at his Mar-a-Lago estate in Palm Beach, Fla.
"They're bringing them back to the United States and Masa and some other people were very much involved in that so I want to thank them," Trump said. "And OneWeb, a new company, is going to be hiring 3,000 people and that's very exciting."
It is unclear where the 8,000 jobs will be based and if they are part of Softbank's 50,000 jobs plan.
In his presidential campaign, Trump vowed to create or bring back jobs to the U.S. Earlier this month, he announced a controversial deal to keep furnace manufacturer Carrier from outsourcing about 1,100 jobs to Mexico. Carrier will get $7 million in state tax incentives to keep the jobs in Indiana.
Son, who became a billionaire through investments in Japan and China, is in the midst of raising a $100 billion investment fund with Saudi Arabia and others.
Donald Trump Claims Sprint To Create 5,000 Jobs ' Because of Me'
President-elect Donald Trump today touted the creation of 8,000 jobs in the U.S., but the two companies involved in those plans say the positions are part of a Japanese technology company’s previous pledge to create 50,000 jobs in the country.
Speaking to reporters at his Mar-a-Lago estate in Florida today, Trump announced telecommunications company Sprint will bring 5,000 jobs “back” to the U.S. while technology start-up OneWeb would create 3,000 jobs here.
“I was just called by the head people at Sprint and they are going to be bringing 5,000 jobs back to the United States,” Trump said. "Also OneWeb, a new company is going to be hiring 3,000 people so that is very exciting.”
“Because of me they’re doing 5,000 jobs in this country,” Trump later said of Sprint’s decision.
Sprint and OneWeb tell ABC News the jobs Trump referenced are part of Japanese technology company SoftBank’s previously announced commitment to create 50,000 jobs.
On December 6th, Trump met with SoftBank founder and CEO Masayoshi Son, who announced his company would invest $50 billion in the U.S. and create 50,000 jobs. In an interview with the Wall Street Journal at the time, Son said the investment would come from a $100 billion investment fund SoftBank established with a series of partners, including Saudi Arabia’s government-owned investment fund.
SoftBank has deep ties to both Sprint and OneWeb. SoftBank holds a majority stake in Sprint and has promised to investment $1 billion in OneWeb.
Sprint said the company will “create or bring back” 5,000 jobs to the U.S. across the organization, including in its Customer Care and Sales teams. Earlier this year, Sprint cut 2500 jobs, mostly at customer care centers, as part of an effort to reduce costs.
“We are excited to work with President-elect Trump and his administration to do our part to drive economic growth and create jobs in the U.S.," Sprint CEO Marcelo Claure, who phoned Trump today, said. “We believe it is critical for business and government to partner together to create more job opportunities in the U.S. and ensure prosperity for all Americans."
A Sprint spokesperson tells ABC News "the 5,000 jobs are part of the 50,000 jobs that Masa Son announced a few weeks ago but these jobs will be funded by Sprint, not SoftBank.”
OneWeb, which is developing a network of satellites to provide global broadband access, had previously announced SoftBank would invest $1 billion in its company. The company said that investment would help construct a satellite manufacturing facility in Exploration Park, Florida and could create 3,000 new jobs across the U.S.
Greg Wyler, founder and chairman of OneWeb, said the 3,000 jobs his company will create are part of SoftBank's initial 50,000 jobs pledge.
Wyler said Son agreed to invest in his company prior to the investor’s December meeting with Trump, but after that meeting, Son decided to increase the investment in OneWeb to $1 billion. Wyler would not discuss what Son's initial investment promise entailed.
Wyler said Trump "played a role in Masa Son's excitement" and said Son's decision to increase his investment was part of his "drive towards achieving his promise to Trump."
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