Donald Trump held a press conference earlier on Wednesday announcing that Sprint is working at bringing back to the United States 5,000 jobs from overseas. During the same press conference, president elect said that another company, OneWeb, is set to create 3,000 new jobs in the US.
The deal was made possible via Masayoshi Son, SoftBank’s CEO, a Japanese technology investor and probably a billionaire-friend of The Donald. Soft Bank made a previous announcement earlier in December that it aims to create 50,000 new jobs in the US following a 50 billion dollars investment in the near future.
Donald Trump wasn’t clear if the aforementioned new jobs (Sprint’s and the new ones from OneWeb) are part of the 50k pledged previously, but we’ll find out soon enough.
Sprint is largely owned by Soft Bank, which holds 80% of the company’s stock. It’s also worth noting that Soft Bank invested one billion dollars earlier in December in OneWeb, a satellite start up company specialized in providing affordable internet.
Soft Bank’s CEO declared at that time that his bank’s investment in the US satellite venture was the first stage of the deal reached with president elect Donald Trump, i.e. the creation of 50,000 jobs in the US and a massive capital injection in the US economy.
The Donald spoke to reporters on Wednesday in Florida, at his Mar-A-Lago resort, and let me quote the man himself:
“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. 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. And OneWeb, a new company, is going to be hiring 3,000 people and that’s very exciting.”
Sprint was quoted earlier today saying that the new jobs which are to be brought back to America will support a number of functions, ranging from sales to customer care, the “meat and potatoes” when it comes to job offshoring.
It’s unclear as I am writing this piece from which country the new jobs will come back to the States and also, if the 8,000 new jobs are part of the 50k position goal announced by Soft Bank earlier in December.
Trump is famous for repeatedly asking US companies to keep jobs in America, promising to ease the regulations, cut taxes and push new and better trade deals. President elect recently announced a deal with United Technologies unit Carrier, i.e. to cancel plans for moving some of the Indiana jobs to Mexico.