Hundreds of pink slips are coming for “duplicative administrative functions” in AT&T’s entertainment empire, and CEO John Stankey and TV chief Bob Greenblatt risk eroding “distinctive” individual brands like HBO and Turner in the process.

When President Trump passed a tax-reform bill in December that lowered the corporate rate, AT&T celebrated by issuing $1,000 bonuses to 200,000 employees and by increasing capital expenditures by $1 billion domestically. Brass told employees the move would lead to “7,000 good-paying jobs for American workers.”

Three weeks later the telecom giant — still fighting a Justice Department lawsuit to undo its $85 billion acquisition of Time Warner — made it clear that those additional jobs would not be at AT&T but in the sector at large, and, in fact,

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