With high interest rates on acquiring a new mortgage and a housing shortage only those that can pay for a home in will be able to move to a hub location. The relocation package will only go to a select few. Those that have college tuition obligations or medical conditions relocation is not an option. Also, the company is going to cut those close to the Modified Rule of 75 to save on future retirement costs.
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Relo is a crazy option in this economy with mortgage interest rates. Few will end up choosing it.
"How much was your home in the early 2000's?"
Exactly what I was going to say. What were the prices for homes in the 80s? What were they in the early 2000s? Am I expected to get into a million dollars home loan to maybe keep my job with AT&T for another year? Maybe I should just start paying AT&T for the privilege?
Replying to "7% interest is high." Uhh... my first house in early 2000s was 7.75% for 30 year fixed. 1980s it was around 19%. 7% is still pretty low by comparison."
How much was your home in the early 2000's? The days of anything under $400K are long gone esp in Dallas/ATL in a safe neighborhood with great schools, nearby amenities, and quality grocery stores.
ATT headed for the sh----r
To the Trolls in Dallas and Atlanta. This is not about RTO! Go kick rocks when you say people are or were not committed. You must be new around here. Just wait the shaft will get you. It's only a matter of time. Why do you think people are so upset? Many have committed their lives to AT&T. Now they or being forced to move or find the exit door. You do not know a individual's personal situation, financially, medically or the fact they have kids in school, declining parents they care for and oversee. It's not that easy for most to pick up and go as much as they feel committed to AT&T. it's time to get off of your narcissistic pedestal. You need to did deep within in yourselves and find some empathy for your coworkers and peers. Your time will come when you are discarded like a used paper plate as well.
"7% interest is high."
Uhh... my first house in early 2000s was 7.75% for 30 year fixed.
1980s it was around 19%.
7% is still pretty low by comparison.
"Interest rates are not all that high."
How would you know? Keep renting.
“Interest rates are not all that high. Everyone just got used to free money”
You mean the free money Stinkweed pi---d away trying to buy companies and now has to pay back with interest?
7% interest is high.
Interest rates are not all that high. Everyone just got used to free money and the government printing more and more. Someone has to pay!
PS: housing is overpriced due to supply and demand. I hear prices are falling in Chicago.
We need people committed to this company. If you are committed, you move to Atlanta and Dallas. ON YOUR OWN DIME. Otherwise we hire your replacement for much less cost in India.
Ok SKANKEY. Amazing you have time for these boards. Try planning something for a change
Correct, if your age + # of years of service is close to 75….you are toast.
Rule of 75 went away didn’t it? What is it worth now?
Don't worry, Blackrock has a rental for you in Dallas.
And your a--hole. Now that is really just the way it is.
Moving expenses for your job are no longer tax deductible either, which is another kick in the cajones.
Very fair point about the rule of 75. Unfortunately this won’t be the first (not last) time they use this approach.
Correct, if your age + # of years of service is close to 75….you are toast.
Thank-you Big John for helping us get rid of dead wood that moved to all these retirement communities and cities and still want to get paid. If you want to get paid, YOU MUST WORK IN ATLANTA AND DALLAS. Why should I go to work in office while you enjoy doing your laundry at home and talking. I have ZERO sympathy for these people who set themselves up for this situation.
I don’t think anyone is “delighting” in this, are they? But the reality is most people who don’t work for a big box company have been thru this type of issue many times over already. Y’all will be OK. But you need to make some decisions, and focus on moving forward and not on being bitter. And remember: no one owes anyone anything: the company doesn’t owe you anything, and you don’t owe them anything. Quit or move. That’s not schadenfreude, that’s just the way it is.
For you a--holes who seem to delight in the issues of others hear me loud and clear. Sooner or later, you will experience the depth and the breadth of the AT&T shaft. And when you do, I hope you never walk upright again. You are disgusting.
Why do you need relocation? Just quit. We don't need you.
We need people committed to this company. If you are committed, you move to Atlanta and Dallas. ON YOUR OWN DIME. Otherwise we hire your replacement for much less cost in India.
Stop asking for relocation for the love of God.