Huge cuts today, this week, likely complete by eom. Everything and anything that costs $'s to keep a healthy branded company as a going concern is being cut. It's being prepared to sell off the parts. Massive slash and burn levels now reached. Don't train people, stop investing in customer sat, all brand building abilities gone. Stripped of all expense that builds and maintains the brand facilitates the sale or spin off of the subscribers. He's not selling the company. He's preparing to dismantle it. Subscriber base sold or spun off. Wireless network becomes just a private equity wholesale backbone for mvno's including the former AT&T Mobility customers. Broadband, spun off too. Massive golden parachutes for the greedy and cold hearted. If you can grab a life vest, jump ship, swim for another boat.
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Stankey is definitely preparing to skuttle the company. That is the only thing that makes sense. He ain't gonna sell it whole because what CEO in their right mind wants to buy a company with over $130 billion in dept, even after a Chapter 11 or 13 Bankruptcy? By restructuring the debt, it doesn't go away, it is still there for up to 5 years or longer.
Stankey has no vision. His only way is to reduce headcount and sell off parts of the company piece by piece, and maybe keep AT&T around as a much smaller company, focusing only on true telecom so he can say he "turned the company around".
For a true turnaround, the BOD directors need to fire Stankey or not renew his contract, bar Randall from ever setting foot on AT&T soil again, replace the entire BOD who are worthless anyway, and bring in a turnaround expert who knows what he is doing.
Because right now, our "leadership" is as lost as a cr------d trying to find his way.
Nobody likes Stankey anymore.
70% of our team cut last week. Cuts in Hub cities included.
The sky is falling.