On today's Town Hall, the question was asked why the Stink would justify giving the VP's a six figure retention bonus to stay because of the Stinks pension cuts. I could hear them sweating when this came to the top.
Not sure what level a VP is anymore. I see my 4th and 5th are referred to as VPs so who knows?
Conveniently, the question was ignored and not answered.
Anyone know more about this?
With the VP and Officer cuts, these jobs will not be backfilled. Those L3 and L4 will remain in place with no advancement opportunities. There will be some serious downsizing needed once all the M&A strategies plays out. We will just be a simple telco company, simple bread and butter making money.
So ridiculous....AVP's can easily step up and do the job of the VP. Most AVP's are closer to the work and could easily fill the seat.
500k for VP and 1M for officers is a drop in the bucket. Fact….. that was the payout. Such a waste since 50% of the officer team will get let go in the coming year
I find it hard to believe vp’s would get 500k bonuses.
The fact that is it d-mb and makes no sense leads me to believe it is true. Part for the course at AT&T.
we have AVPs that can step up and take those jobs so not sure why this is necessary.
Skeptical about the idea of an across the board retention payment for VPs, especially one of that size. Most VPs and AVPs are not necessary. Their primary function is the production of bu-----t stories intended to create the impression they know something or are doing something of value. Also their existence inflates headcount and thereby justifies higher level jobs to "manage" them. Paying retention to most of them at a time when the company is looking behind the couch cushions for loose change to help pay for Stankey's and Stephenson's disaster would be like paying to not have your household trash picked up. But things are just so dysfunctional anymore, and not just here, anything is possible.
Just dangling another carrot to keep people on a sinking ship. This retention would be paid out with stock options not cash. Based on the AT&T stock performance, not worth staying for that payout.
In my previous role at AT&T I had a retention agreement. It was for 25k if I stayed for one year in my current role. It wasn't enough to keep me from leaving a sinking ship to a better role in the company.
You don't get the money until you have stayed for however long the terms of the agreement dictate. My boss had an agreement, he left the day he got his money.
Hope HR made them sign a contract/agreement that they wouldn't leave. If not, I would leave the day the retention bonus was in my checking account.
Overall, what did they say is the state of the business and did they mention any layoffs for 2022?
Yes, this is true. Supposedly we are losing VPs to attrition and this is intended to keep them. But the fact is, we have AVPs that can step up and take those jobs so not sure why this is necessary.
I have not heard anything about this. What is this in reference to?
lets hope this retention payout was paid in stock options.. At the rate T stocks have been performing ,they are worthless. The orchestra has begun to play on the top deck, we all know how this movie will end.
VP's 500K and Officers 1M.....what a waste
5th level. True. They are sworn to secrecy.
Town-Liar interesting factoid: they announced that the organization is loosing 5% of their management because of the Stink's pension take-aways. Seemed proud of it. Trying to backfill now.
They have a diversity board to make sure who gets the jobs will be PC. Proud of it.
Strike!
Wow! That question got past the minders? Wait until the CSuite realizes they are not as protected from the unwashed as they think they are.
Their value to the company is incalculable. We would be rudderless without them. Oh wait!
I am definitely going to check out the replay! LOL