Did he mention anything about layoffs ?
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Those who do not remember the past are condemned to repeat it.
Jeremy Legg is gonna move the company forward which means a bunch of legacy guys will feel threatened.
Haters gonna hate. Rest of us gonna appreciate the company turning it around.
What kind of puppy? A pitbull?
Legg is such a tool!
The most obvious thing from the meeting is that the other leaders treat Legg sort of like they would a puppy. That is the best description of how they interact with him. It's hard to come away from that thinking he's in charge of anything.
They said technology spend going down from 3.5 billion to 2.1 billion by 2025. Target next year I think they said is 2.7 billion. Hard to see all those charts. That is a huge cut if I saw that right.
They want to get rid of many contractors and add some employees in India. I doubt there will be any hiring in US. If there is any hiring in US, only in Atlanta and Dallas amd Ny and Seattle. It doesn’t make sense to hit talent in NY and Seattle where cost of living is high.
The positive, they did not mention any surplus. I think they said we are around 60% contractors or outsourced now. But if you are working on new initiative you can bet it comes to halt if it was not Google something or Salesforce. I think all that other stuff slows down or stops. They mentioned Melissa Arnoldi name a few times, so I think only programs in her area will get funding.
A new theme that he and McElfresh mentioned several times is attitude, the attitude of the people.
Having heard it clearly stated on the Sambar call (and reportedly in the ACE THall) that a surplus is coming in1Q2023 that was not mentioned by Jeff or Jeremy. However, the ongoing message for the last 10 years about cost cutting was stated multiple times. He said there will be another town hall before EOY. Multiple times he mentioned a choppy 4Q ahead and he may have even said something about rough times ahead. Jeff made similar comments. Had I not heard anything about a surplus I would not have thought much about what either Jeff or Jeremy said but knowing there is one coming I think their comments referred to just that without saying it directly and stirring everyone up.
Some people gotta harp on something that happened over 10 years ago and not move forward. They just aren't "move forward" kinda people.
Well bad decisions by "leadership" 10 years ago have no impact on those that made those bad decisions. They will be alright. Some of us are move forward "kinda" people and want the company to do well and have a very real concern that the "leadership" in place is not the team to make it happen given past results.
AT&T should buy another wireless carrier and then buy a movie studio and then a satellite dish company to distribute the product. It’s all about diversification these days.
A surprise!
Didn't work, Stankey wasn't the media mastermind he claimed to be.
Legg again blew off Q&A because "that's not important" but instead rambled about how he doesn't like people who look at past decisions and don't look to the future.
I guess that's his way of saying that all the bad decisions that were made in the past are "water under the bridge" and we best not question anyone who made them.
Yes, do not question "leadership". Past decisions that have caused a massive increase in debt and a dive in stock price (Don't talk to me about the stock price going to sub $15 to the mid 17's, that is not anything to celebrate) Do not question it.
But, yes. Continue to be a cheerleader for the current "leadership" as they remove any benefits you have left.
Some people gotta harp on something that happened over 10 years ago and not move forward. They just aren't "move forward" kinda people.
AT&T should buy another wireless carrier and then buy a movie studio and then a satellite dish company to distribute the product. It’s all about diversification these days.
He blamed software contractors on past decisions before he came that he wants to undo but apparently not by much. His solution apparently is to make some of them employees, reduce the number of contracting houses, and instead of outsourcing, offshoring. That was reflected in the future graphs.
I wouldn't count on raises being that much higher. He wouldn't commit to a percent and then pawned it over to some HR person who claimed everyone who was "underpaid" got a midyear salary adjustment.
My salary band WAS adjusted but that was the extent. I only fell further from the midpoint because of it. With raises like that, who cares about putting in the work.
Legg claims to post answers to questions after all town halls. I think since he's been here, he might have done that once. Don't count on answers to any of the questions.
He made it clear today and in the past that if it is concerns past decisions, he doesn't want to hear about it. He thinks once a decision has been made, all is settled, and everyone should be a happy camper and sing around the campfire.
Who watches this nonsense during their spare time?
If Jeremy's lips are moving, he's lying.
thank you for the details !
He didn't take questions but did address employee count at the end. Will definitely be changes coming in new year. Today about 70% contractors/30% employees, by 2025 55%/45%. Shift to more offshore - today 87% employees onshore/13% offshore, by 2025 80%/20%. Location hub changes - today 66% hub/34% other locations, by 2025 75%/25%. (Hub: Seattle,Dallas,NY/NJ,Atlanta and India,Mex City,Israel,Slovakia)
Intent is diversity in new hires, training for tech folks, conversions from contractors to employees. Reduction of # contractor company agreements.
Also raises expected to be higher due to inflation.
His ppt deck is available and supposedly questions answered on town hall yammer.
Legg again blew off Q&A because "that's not important" but instead rambled about how he doesn't like people who look at past decisions and don't look to the future.
I guess that's his way of saying that all the stupid decisions that were made in the past are "water under the bridge" and we best not question anyone who made them.