Special Reports

Trump Teams Up With Sprint and OneWeb In Creating 8,000 U.S. Jobs [Video]


Trump released a statement that Sprint and OneWeb plans to hire a total of 8,000 U.S. workers which he believes is good news for the economy. The president-elect seems to be enumerating job announcements done recently, according to Los Angeles Times.

Sprint, a telecommunications company, and OneWeb, a satellite Internet start-up, are adding 5,000 and 3,000 offshore jobs, respectively, to the United States.

OneWeb has secured $1.2 billion in funding mainly from Japan's SoftBank Group Corporation, as reported in Reuters.

The head of Softbank, who also owns Sprint, said that the company has pledged to invest $50 billion in the U.S. in creating 50,000 jobs.

Trump said the deal was made possible when Masayoshi Son, Softbank's CEO, met with the president-elect earlier this month. The meeting produced the commitment and pledge of the Japanese billionaire and technology investor.

It has not been declared whether the $100 billion tech investment fund that Saudi Arabia's sovereign wealth fund and head of SoftBank would be the source of the $50 billion SoftBank investment, according to Business Insider.

Trump said that the move is a response to these jobs that were taken from other countries and bringing them back to the United States.

Sprint announced that these jobs would be a combination of reinstated and new positions.

Marcelo Claure, Sprint CEO, said that the company is excited to be a part of boosting economic growth by creating jobs in the U.S. The company believes that it is crucial that businesses and government should team up in creating more job opportunities in the U.S.

Trump promised during the presidential campaign to create or bring back jobs the US. Furthermore, he released a statement about keeping Carrier, manufacturer of furnaces, from outsourcing jobs to Mexico. He will allow Carrier to obtain $7 million in state tax incentives in exchange for keeping the jobs in Indiana.

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