Thread regarding AT&T layoffs

AT&T pays its employees too much to be a Wall Street winner

What happens if ATT announces blowout earnings like the Apples, Amazon, Facebook, Netflix, Google, Teslas of the world?

It will be blood in the water for the Union sharks to circle around the CEO and demand even higher pay, more benefits, lifelong job security and on and on.

ATT is not set up to bow down to a Musk or Bezos or an individual raking in all the wealth.

T has no choice but to lie low and take care of massive layoffs and restructuring now while it has the COVID get out of jail card and lack of revenue from sports etc.

How long the accumulation phase lasts in anyone's guess, but T is not going to shoot to the moon in ER reports by design and will always be by some accounting miracle a penny or two shy of making it....

This is a long term play so add and DRIP while you can and then shed a large chunk to remove overweight status when it spikes.

None of the FAANGS have the labor costs or provide the benefits to employees like ATT does. So, if you are just in for the shares, then sorry about your luck.

Those that work for ATT get tons of benefits, HSA match, 401K match, huge discounts, annual bonuses, and many even have a pension still in play.

Learn to appreciate this All American company for what it is. A constant income provider and a provider of high paying jobs to Americans.

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Post ID: @OP+16GGpTrN

12 replies (most recent on top)

To the old timer bragging they got theirs and they don’t care about anybody else. That statement right there is why the economy is still closed. As long as the boomers get theirs, the hell with the rest of us. They will run this country into bankruptcy while they scream Covid and keep everything closed. Wonder who is going to pay for their government entitlements like Medicare and Social Security when all the of the rest of us have lost our jobs? It’s high time we get the kids back in school and get the economy going in.

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Post ID: @1blr+16GGpTrN

Dude, at 35 yo, you’re still a young pup in the T world. I’m 65 and still working here! Now, that’s an old timer that has seen more company changes than I care to admit! You’ll be lucky if you rack up the service years that I have with this company! Hang in there...

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Post ID: @jnb+16GGpTrN

“Wall St. can lose.
I got my 401K, retiree health benis, and pension. My wife got all 3 as well.
I won, and that's all I care about.“

And we wonder why att is the cesspool it is.

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Post ID: @gdx+16GGpTrN

What do you mean when you say “All American Company “? Half of customer service is in India or some other country where nobody can understand a word they say. And the 401K is not exactly matching. “Huge Discounts”? Sure- off already huge bills. Not everyone gets annual bonuses. And why the need to constantly pick on older workers? I’m 35, so I suppose I’m old. Someday all the people here who rag on older workers will be “old timers too”, and I hope you get disrespected just as much.

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Post ID: @ktg+16GGpTrN

Pension is gone in the orange Contract for all new employees.

People are bitter due to poor management from the top down. Instead of focusing on sales it's always red tape, coaching, changes, constant management hovering from a dos level down to a rsm level.

Even new hires are starting at way lower wages and having more expected. The job isn't what it once was.

The mobile sales teams drive 250 miles a day sometimes due to no dispatches or tech dispatches and still get yelled at for not doing enough for sales.

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Post ID: @spr+16GGpTrN

T is just not being smart about downsizing! Once again, there are many union workers in all areas of the country that would be willing to leave the company and have been working wit T for decades...now, they’re ready to pull up stakes. The problem is that ATT is just not offering severance packages to those people, consequently, they’re more than willing to continue working way past their normal retirement age. It’s easy and very good money and hard to walk away from!

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Post ID: @gmy+16GGpTrN

Now that Elliot sold their position , it's back to business as usual from the stock side.. I still expect Stankey to leave within a year once WallSt. Starts punishing the stock.. because of Covid losses... Long term T will be fine, once they cut the baggage of all these old timers.

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Post ID: @yuw+16GGpTrN

Very true! AT&T is great for employees at all levels - more so than for customers and investors. Made me wealthy by most everyone’s standards. Yet there are still many bitter employees and ex- employees. Strange!

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Post ID: @sul+16GGpTrN

Wall St. can lose.
I got my 401K, retiree health benis, and pension. My wife got all 3 as well.
I won, and that's all I care about.

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Post ID: @sur+16GGpTrN

Bs it has been like this for at least 20 years it will never change. When will it end? It will always be a cesspool. What do you consider long term 100 years? Please don’t use COVID as an excuse. Att only used it to only give people two weeks instead of 60 days. Att is ran by snake oil salesman and they sure have you sold.

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Post ID: @leu+16GGpTrN

Zero chance of that with Ratty and Stinky and the clown Board of Misdirectors.

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Post ID: @tjf+16GGpTrN
  • LOL
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Post ID: @mfv+16GGpTrN

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