President-elect Donald Trump, from the steps of his Mar-o-lago resort in Palm Strings, FL applauded the return of 8,000 jobs to the United States. Trump touted plans announced earlier this month Masayoshi Son, a Japanese tech mogul, that his firm Softbank Capital would deploy over $50 billion in investment capital into its American holdings — including Sprint and OneWeb.
SoftBank formerly maintained a Buffalo-based office led by partner and venture capitalist Jordan Levy, after his brash style caused some of the other partners to ask him to spend less time at the New York office.
Son is the founder and chief executive of SoftBank, one of Japan’s largest technology conglomerates. Sprint, which was denied the ability to merge with T-Mobile in 2014 by federal telecom regulators, is expected to hire 5,000; while OneWeb, is expected to hire 3,000 workers. It is unclear what position a Trump administration would take on antitrust cases and major telecom mergers.
The Labor Department claims that employers have added more than 2.2 million jobs over the past 12 months — an alleged indicator of economic health that has been pushed by the Obama administration, and widely panned by conservative activists who see the statistics as concocted.
Since it was acquired by Softbank in 2013, Sprint has struggled it a perpetually third place in its market. The discount phone carrier’s workforce declined by 9,000 workers between 2012 and 2016, to 30,000.