Thread regarding AT&T layoffs

There is no honor in a company that screws it long time loyal employees.

At what point does at&t stop with all of the sporting events and sponsorship money paid out. Do they really think customers are buying because of it?

Yes, yes, we all know Stankey committed to carve $6.5B of savings out of the budget. Since he and Randall destroyed at&t, it should come out of their pay not the employees and retirees bennies.
I know, I know, Stankey blames the failed acquisitions on the employees, said we didn't execute on the acquisitions. What a load of cr-p, but then again, has Stankey ever taken responsibility for any of his reckless decisions?

just need to do that 35 more times and the debt will be gone genious.

As a large shareholder, I applaud the benefit restructuring and expect further belt tightening.

If you were a "large shareholder" you would be in for great disappointment. Fortunately you are just a troll.

Retirees are just a money pit liability. Moving all Medicare retirees to their advantage plan, which is better than most others, will save a bunch. Once the get dental and visi9n on the advantage plan, all the HRA goes away, and they get paid by Medicare for everyone on the plan.

I used to feel bad for myself because I got surplused (legacy RBOC mgt level 2) in summer 2020. But at least I was MR75 eligible and got 6-months salary when I was told I was leaving with 2 weeks notice.

Now I consider myself one of the lucky ones. I am paying for discounted retiree health insurance (same as I had as an active employee just paying more but not full amount) and still have a couple years to go before we reach Medicare age. Hope the remaining $4B in post retirement benefits will hold on to cover me till I reach 65.

Typical sc--w the guy that put in 35 years of hard work for the company to Retire!

@alf+1m0aXj1D

two years within MR 75. yup, this is the sweet spot for most of the layoffs. T's reorgs are designed to funnel workers into groups targeted for layoffs later on based on their years of service. for those thinking they will get a full pension someday, at&t will do whatever they can to make sure you don't. there will be a some that make it, and you can be sure they have had to kn--e a bunch of people in the back in order to get it. that's what this company is all about.

As far as retired Medicare eligible retirees are concerned, it isn't until 2024 that they lose their $2700 benefit and get a Medicare Advantage plan valued at $1057 premium instead.

So, there are more savings for AT&T in the pipeline come 2024.

With the savings related to retirees now fully implemented, what will be the next benefit cut impacting active employees?

Improving the balance sheet. Way to go!

Post ID: @1tvh+1m0aXj1D
As a large shareholder, I applaud the benefit restructuring and expect further belt tightening.

No, you are not a "large shareholder". You are a common troll.

At 19 I had a college professor tell me to invest in T shares and reinvest the dividend in additional shares. Even with the downturn of the stock price and dividend, I still accumulated over a million in value. It's a small part of my overall investment portfolio and still having tolerable returns.

When did you do that? 1990 ?

At 19 I had a college professor tell me to invest in T shares and reinvest the dividend in additional shares. Even with the downturn of the stock price and dividend, I still accumulated over a million in value. It's a small part of my overall investment portfolio and still having tolerable returns.

expect to do more of the same saw it coming ten years ago

"Went from a respected company..."
SBC was respectable, when?

Any large shareholder of T needs to have their account examined. How much dividend are you making?

Ok, I give... I do not remember Sears telecom? What happened?

Any large shareholder of T needs to have their head examined. There are much better options when it comes to investing.

Can anyone say….. wait for it…… SEARS??? Remember that once great company? Sounds familiar…… can’t wait for the next town hall rally session where they do chicken wings……. Yeee hiiii!!!

We continue to make Accenture rich from Tech Dev work we used to pride ourselves on.
No one minding the store in what we’re paying and ROI.

As a large shareholder, I applaud the benefit restructuring and expect further belt tightening.

@jyz+1m0aXj1D

I know exactly what happened. Went from a respected company to the most indebted one in the world from narcissistic leaders living in a bubble. Has reduced headcount from 300k plus to half, now paying high premiums for a catastrophic medical insurance plan, losing medical retirement benefits, reduction in retiree life insurance, changed the pension/401k plans, reduced PTO, constant layoffs, created a toxic micromanaging environment, hardly any meaningful training to keep up with technology and certifications, etc…

as surplussed short of MR75, I took the MTR (Management Transition Retirement). That is 50% of severance (3 months) plus retire health insurance. I had to pay taxes on the whole amount (6 months). Now no health insurance. Color me stupid for trusting T and HR. Glad I worked late for emergency projects & then found out supervisor took off the next day for working late. Color me again. There is no recourse and upper has better lawyers and more experience in squeezing employees.

Instead of striving to be industry leaders in employee relations, AT&T joins the race to the bottom. Again!

It is truly shameful that you don't know what happened and yet still complain.

Running out of assets to sell, over leveraged but enough revenue is flowing to keep up appearances and bonuses. The fat cats aren’t done playing with the mice either, more layoffs to come.

Bottom line, they don't care, BOD's don't care & shareholders ---- there is nothing you
can do about it.

You haven't seen anything yet! Just wait, more to come.

Just remember. Leadership still has to recoup over $135 billion!

WoW, just WoW! Who gets to pay for Stankeys mistakes? Why it's the retirees!

Probably closer the the $2+ billion figure in the adjustments row - the difference being the gain number due to higher interest rates - still a big reduction in retiree benefits due to poor past massive management decisions.

As Stankey and Santone pound their chests! How much bonus did the BOD give them for this travesty? I don't know how these id--ts sleep at night. This is nothing short of theft of retiree earned benefits.