Yahoo!Finance Wednesday, July 26, 2023 By Samrhitha A
"(Reuters) -AT&T expanded its cost-cutting plan by $2 billion on Wednesday after topping estimates for quarterly free cash flow and reiterated it was conducting its own assessment of the lead-cable sites."
Full article at: https://finance.yahoo.com/news/t-tops-free-cash-flow-102839734.html
lock up the toilet paper
This is much closer to what I was seeing.
https://www.dallasnews.com/business/local-companies/2023/07/26/dallas-based-att-takes-aim-at-another-2-billion-in-cost-cutting/
AT&T says it reached its $6 billion cost-cut target six months early and raised its goal to cut an additional $2 billion in expenses over three years.
“These additional cost savings will be largely driven by the sunsetting of our legacy product portfolio and supporting infrastructure,” CEO John Stankey said Wednesday.
It's gonna be tip and ring. Copper.
How the heck could you save 2B over 3 years just my decommissioning legacy infrastructure? We still running mainframes and heating buildings by coal?
This is not where I saw it, because I saw it on AT&T literature, but this is where the cost savings were said to be coming from.
https://www.xm.com/research/markets/allNews/reuters/street-view-att-to-see-growth-amid-slowdown-worries-53600145
Oppenheimer ("perform") sees opportunity for co to raise prices in both wireless and broadband; believes $2 bln in planned cost cuts will mostly be from decommissioning of legacy infrastructure;
If your job is supporting fiber or wireless, things look OK. Tip and ring - not so much.
well you can be sure none of it will be coming out of executive compensation
@oku+1nOApul, sure thing sweetie.
Man, the level of gullibility and naivete among T-people is simple astounding.
I have a feeling that all of the id--ts who accepted relocation are now feeling their sphincters tighten as they realize that six months after they've settled into their new homes there will be another round of layoffs.
Because T is no longer satisfied with just ruining people's lives by laying them off, they now want to destroy their lives by first making folks upheave their lives and move across the country before laying them off.
Enjoy unemployment in Texas, su-kers!
"Yesterday they said the 2Bn does not include employee cuts. "
Put that big cup of blue Kool-Aide down and wake up. They also said we would offered generous relocation packages to go to a hub. You can't trust anything these clowns say.
Yesterday they said the 2Bn does not include employee cuts.
It's mostly real-estate, outdated equipment, and technology.
That 15k headcount reduction year over year the stink mentioned earlier in the year
RTO noncompliance will help drive headcount reductions.
Real estate, surplus, definitely not from leadership bonuses
OpEx..reduction in employees and real estate would be my guess.