Trump to Get 8000 Jobs Back to US : SoftBank and OneWeb Agree to Create Openings

trumo-and-sonThe telecommunications giant, Sprint Corp and the U.S. satellite company OneWeb are going to open up about 8000 jobs in the United States, According to  a statement made by president-elect Donald Trump. Both the companies gave credits to a previously disclosed pledge by the SoftBank group for the open positions.

Earlier in December The chief of SoftBank billionaire businessman Masayoshi Son said that he would invest up to $50 billion in the United States, which would in-return help create 50,000 jobs. SoftBank also holds stakes in both Sprint and OneWeb.

Sprint said that it would cut 2,500 jobs, as a part of bigger plan of cutting down about $2.5 Billion in costs. However, now the company said it would create 5,000 jobs in the areas of customer care by the end of fiscal year ending  in march 2018, according to a statement made by the company on Wednesday. Sprint also partnered with Pokémon Go, making Sprint stores across the U.S. Poké stops and Gyms in order to get the attention of the younger crowd.

“Today, Sprint (NYSE: S) announced a commitment to create or bring back to America 5,000 jobs. The company anticipates these jobs will support a variety of functions across the organization including its Customer Care and Sales teams”, said Sprint in a statement.

On the other hand, SoftBank and OneWeb announced that the company was leasing a $1.2 billion funding round on Dec. 19. OneWeb aims to use the raised funds to build a plant in Florida to produce low-cost satellites, creating about 3000 jobs.

The investment is expected to create nearly 3,000 new engineering, manufacturing and supporting jobs in the U.S. over the next four years. The SoftBank-led investment will also support development to enable global access to affordable high-speed internet services for everyone, including every unconnected school in the world by 2022, as well as using OneWeb’s leading technology for growing global markets including consumer broadband, connected cars, cellular backhaul and the Internet of Things. OneWeb will begin production at the new manufacturing facility in Exploration Park, Florida, beginning in 2018”, noted SoftBank’s statement.

What remains unclear is that, whether the $50 billion SoftBank investment is a part of the $100 billion tech investment that the SoftBank and Saudi Arabia’s sovereign wealth fund, the largest tech fund till date, which was announced earlier this year. Apple was also considering to invest in the $100 billion tech fund.