Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Photo: Andrew Harrer-Pool/Getty Images

President Trump said in April the Republican tax cuts are "giving [companies'] workers thousands and thousands of dollars of bonuses — something that we never really expected."

Yes, but: Not everyone could. While a number of companies announced bonuses for their employees, several still terminated hundreds of positions. Vox reported on Tuesday this is indicative of a pattern: "[C]ompanies profit, shareholders reap the benefits, and workers get left out."

Companies with layoffs since the tax cut:
  • Comcast: More than 500 employees were laid off at the end of 2017, the Philadelphia Inquirer reported.
  • AT&T: Around 600 employees in six states were told in December they'd be out of a job soon, Kansas City's Fox affiliate, Fox 4, reports.
  • Carrier: Just over 200 employees lost their jobs at the company's Indianapolis location, Reuters reported, after the company vowed to keep 1,100 workers after receiving pressure from Trump to close the plant entirely.
  • Walmart: 63 Sam's Club stores were shut down in January, which was made known shortly after bonuses, expanded benefits, and wage hikes were announced.
  • Kimberly-Clark: In January, the company announced it would be letting go of up to 5,500 jobs, and closing around 10 facilities, the Washington Post reported. Chief Financial Officer, Maria Henry, said the tax break received from the GOP tax bill would help counteract the changes.
  • Harley-Davidson: 800 workers were laid off at a Kansas City factory, Vox reports, shortly before the company "announced a dividend increase and a stock buyback plan" to repurchase $696 million worth of shares.
  • Sears: At least 40 stores in 24 states — 31 Sears and 9 Kmarts — are closing, per Business Insider.
  • Verizon Wireless: Around 3,000 customer service jobs are being cut, according to the labor union Communications Workers of America.
  • PepsiCo: While announcing $1,000 bonuses, the company also announced it would be cutting "less than 1% of 110,000 corporate jobs," per the Wall Street Journal.
  • J.C. Penney: 360 jobs were cut in February, including 130 at its headquarters, per CNBC.

Go deeper

Biden to sign executive orders focused on women's rights

President Biden. Photo by Samuel Corum/Getty Images

President Biden will sign executive orders Monday establishing a Gender Policy Council and directing the Department of Education to review the federal law Title IX, according to administration officials.

Why it matters: The Biden administration is signaling its priorities to advance gender equity and equality as women, particularly women of color, have been disproportionately affected by the COVID-19 pandemic.

3 hours ago - World

Report: U.S. calls for UN-led Afghan peace talks

Secretary of State Antony Blinken at the State Department in Washington, D.C., in February. Photo: Jim Lo Scalzo/EPA/Bloomberg via Getty Images

Secretary of State Antony Blinken said in a letter outlining a plan to accelerate peace talks with the Taliban that the U.S. is "considering" a full troop withdrawal from Afghanistan, Afghan outlet TOLOnews first reported Sunday.

Why it matters: In the letter to Afghan President Ashraf Ghani, also obtained by Western news outlets, Blinken expresses concern that the Taliban "could make rapid territorial gain" after an American military withdrawal, even with the continuation of U.S. financial aid, as he urges him to embrace his proposal.

Harry and Meghan accuse British royal family of racism

Photo: Joe Pugliese/Harpo Productions via Reuters

Prince Harry and Meghan Markle delivered a devastating indictment of the U.K. royal family in their conversation with Oprah Winfrey: Both said unnamed relatives had expressed concern about what the skin tone of their baby would be. And they accused "the firm" of character assassination and "perpetuating falsehoods."

Why it matters: An institution that thrives on myth now faces harsh reality. The explosive two-hour interview gave an unprecedented, unsparing window into the monarchy: Harry said his father and brother "are trapped," and Markle revealed that the the misery of being a working royal drove her to thoughts of suicide.