Thread regarding AT&T layoffs

News flash Herman, at&t does not, I repeat, does not layoff by region. They layoff using equal opportunity rules. Stankey doesn't show any favoritism to any region, with the exception of the Southwest region. All others are equal opportunity.

Thanks for your input, informative.

I was 55.5 yrs old and met the MR-75 in my surplus in early 2019, I was a "management" level employee in mobility. Back then, MR-75 let you keep the subsidized medical plan, other than that, there really wasn't any value in it.

Severance was 1-week base pay per year in service, up to a max of 26 weeks The payment is approximately 4 weeks after separation, just taxes are withheld, no 401K, insurance, etc.

I forget the last regular paycheck, I believe it was on the regular payroll schedule, may have been a mailed check

re-employment with the company, there are documents at the benefits site. I believe if you rehire less than 6 months after you left, you may be required to repay some portion of the severance pay.

Employment with contractors, that's completely separate, between you and them.

It's all a bit fuzzy now, 4 yrs later, I'm no HR/Benefits, or any other specialist. I know there are differences based on what part of the company you are from, when and where you were initially hired, and whether you are union or management, so what I went thru isn't necessarily the same as anyone else. Certainly, it is different after Dec 31, 2021. Good luck.

You will get your pro-rated bonus. My last day was 3/31/2019, in 2020, I got a bonus check for that quarter, that was the end.

The benefits center, you can make an appt / call with them and they can go over current options and how to pay for them (again, back in 2019 I could easily continue medical/dental/vision/life, etc., or not)

Fidelity is the administrator of the pension and 401K, you can call them and they will advise on what options you have

Yes, COBRA is 18 months BUT management severance policy states that company will provide benefits for the first 6 months after layoff, which overlaps with the 18-month COBRA eligibility. So if you need to continue benefits after the first 6 months AT&T continued benefits, there will be 12 months of COBRA available.

Cobra is approx 18? months definitely not only 12 months but you pay for it and is not cheap. May do better with Obama care.

Re: @ipity: I agree with you. Things can change any moment and you never know when you’ll be asking some of the same questions posted here regarding post-layoff options. In light of that, it would be prudent for employees to do a bit of research to understand how a sudden or not so sudden layoff will impact your quality of life, ie., insurance, pension, 401K, etc. If you’re over the age of 50, researching your options should be top of your list of things to do at least once a year or more so that you’re not caught flat-footed when your name is on that surplus list. A few years ago when the announcement came out that our team would be severely impacted I was shocked to learn that some of my colleagues (these people were highly educated, managerial titled; and many had more than 20-30 years employment with the company) had no clue what their projected pensions options were, how much severance they were due, or who to call to answer questions. Frankly, I was shocked. We’re all simply a type of ‘contracted’ worker….and one day ATT (or other company) will not extend your contract. Do a little research on how to prepare to exit the business to lessen the stress. Good luck.

What is on the other side of the fence?

“SSIM doesn’t do layoffs. They just hire more people to do less work”.

This isn’t true at all. You do remember when Specials Techs were cut by 30-45% a few years back don’t you? It was only after Locus became VP of Business Field Services that was turned around and we started hiring again. The problem is, all that hiring and headcount sustainment is due to the non-designed and often residential or barely business related IP Broadband work (GPON, BVoIP, etc) that you despise so much. You can definitely have your cake, but you won’t get a choice in what kind. If all the non-designed broadband work went back over the fence tomorrow (where it belongs), you could cut 50% of the SSIM workforce (techs, managers, AM’s), enterprise wide, and not skip a beat operationally. That’s a fact Jack.

Any news yet?

I am so glad more people are learning about the IRS Rule os 55. Not may Financial Planners will tell you about it because you have to leave your money in the 401K until 59 1/2. I retired at 57 and was glad to learn about it but did not start taking interest payments until age 60.

Decent thread and good post! A lot of shocked and unfortunate people are going to be involved in layoffs this year. Any references or credible knowledge will help those going through the layoff process. It’s usually a shock when you become the one selected to be let go and are trying to adjust to a career and life changing event. You never know when it will be you either through a layoff or another life changing event. Examples: Two of my friends, one lost a leg in a recent vehicle accident and another in a separate vehicle accident is paralyzed from the waist down, Life Changing!

Most long term employees have their head down trying to do their best, meet metrics and live life. Someone that hasn’t been selected can assist those who are going through an emotional time it’s part of the “golden rule” most of us were taught as children. Many times there are more things at play like; healthcare for their family, possible relocation for another job and all that entails, age discrimination in obtaining another position, difficulty retraining or schooling due to various issues, their own health issues, taking care of aging parents, etc..

End of the day, it doesn’t cost much to be kind or say a prayer for others in need! That is soapbox lecture for the day and food for thought.

SSIM doesn’t do layoffs. They just hire more people to do less work. Can’t help you with your questions, sorry.

You have access to insurance if you meet the rule of 75 - only benefit to the rule now. I still think it's cheaper than what is on the open market. You can roll your pension to AN IRA - just have to do a little paper work if you are married. I think you have to wait 6 months to come back as a contractor.

All those with snide and cursory remarks that all info is in the docs must not be in the same situation as some of us. If it were all so cut and dry then nobody would be asking questions. I get different answers most times when asking even HR.

So explain away oh mighty knowledgeable one with all the answers, it would be more useful than your condescending tone. Or do you really know?

The website nor the reps can accurately tell you what out of pocket costs will be for coverage. Won’t know for sure until the bill comes.

These are all very basic concerns that can be answered with even a cursory glance at the documents available to you. For instance, the severance policy couldn’t be more cut and dry. What could you possibly have questions about?

Bonus payout: You will receive full bonus payout on 3/6/2023 for 2022 since you were still on payroll 12/31/2022. For any months worked in 2023, you won’t receive until next year 3/2024 when that bonus is paid out.

Insurance Benefits: not sure if you are management or not. I can only speak for mgmt surplus. Generally benefits end in last day of the month you last worked. If last day is 3/3 then benefits end on 3/31. If last day is 2/28, then benefits end the same day.

However, I read in the severance docs that benefits will continue for 6 months, then next 12 months would be COBRA. What I don’t know is if during those first 6 months, would we be required to pay the regular monthly amount we’ve already been paying, or something higher.

I am also awaiting surplus status since I was in the AWG notified on 1/24.

As far as taking distributions from the 401K is concerned, the Rule of 55 is probably applicable.
https://www.bankrate.com/retirement/rule-of-55/
Generally, if you are age 55 when you are separated from the company, you can take withdrawals from the employer's 401k without a premature distribution penalty of 10%.

https://www.irs.gov/taxtopics/tc558
•Distributions made to you after you separated from service with your employer if the separation occurred in or after the year you reached age 55

You can take out of your 401k at ATT using the rule of 55 with no penalty. I retired early and that's what I am doing. Don't move it to an IRA before 59 1/2. If you do take out of your 401k or pension you can't come back as a contractor for 6 months. You will get a prorated bonus for time worked the following March.

Severance is based on years service so you should max out, pension and 401k is thru Fidelity, healthcare will probably be Cobra or get your own, the company changed that at end of 21. No info. for the rest.