What is this rumor of severance getting cut?
18 replies (most recent on top)
Nope, they are there for the severance money or waiting until Medicare eligible so if severance is cut they will just quiet quit until Medicare.
"If they could they would cut severance. It is just a matter of time. They are not stupid and realize that many retirement eligible people won’t leave unless you pay them. Only way to force them out is to take severance."
"They are not stupid and realize that many retirement eligible people won’t leave unless you pay them."
Apparently, they are stupid because if they would not have taken away the medical bridge for retirees they would have already gotten a bunch of people off the books without the severance. Stank made a decision that got him a one-time bump 4 years ago. If he had kept that in place with the FTW program then people would be leaving on their own accord, regardless of the severance.
If they could they would cut severance. It is just a matter of time. They are not stupid and realize that many retirement eligible people won’t leave unless you pay them. Only way to force them out is to take severance.
All the old timers waiting for 6 months pay might just retire when they realize they're not getting it.
You’ll get a kick to the nuts and a thank you certificate.
Not in Nj
I don't know, what is it? Did you just make it up?
As many are aware, the job market doesn’t have this massive severance, massive bonus model that ATT has. Most companies pay well, but don’t lay off often. So there’s no focus on severance. Bonuses are usually stock options in other places.
ATT is setting up to operate like other companies, which is why I believe these rumors. Best to get in on the waves or be saving every cent you can
“While they cut severance by 50% (as suggested by one troll), maybe they should cut salaries and bonuses by the same for those left behind. M0r0n.”
Now you are catching on. Bonuses will be cut too.
While they cut severance by 50% (as suggested by one troll), maybe they should cut salaries and bonuses by the same for those left behind. M0r0n.
Severance should be loweted to a max of 3 months to shed more of the welfare employees before EOY.
Made up.
The proposal to change it from tenure based (2 weeks pay per year of service, max 26 weeks or 50% of annual salary) to a levels tier based system (Level 1 = 4 weeks, Level 2 = 8 weeks, and Level 3 = 12 weeks) was shelved during the pandemic. It is regaining traction as most employees are now in hubs and can backfill one another and build a local bench. Earliest to be implemented is Jan 1, 2025 based on Lori Lee meetings. More likely Apr 1, 2025 in anticipation of voluntary attrition observed at year end after bonus payments.
Just a rumor, they haven’t cut c-suites compensations severance packages. Last time I checked, this is still a publicly traded company. We all know Stankey and the board think it is their’s.
Probably just a rumor. HR leans toward using the same set of rules nationwide for legal protection, and quite a few states have laws with mandated minimums for layoffs. If they don't at least cover that, it opens up potential legal challenges.
Cut it to a fair amount.
The rumor vacillates from a reduction (to 2 weeks) & other such postulations. No doubt the C suite would love to eliminate severance all together. However, we’ll see how quickly they accomplish that nefarious goal.
What was the compensation for the top 3 leaders, the last couple of years? I know the former CEO Stephenson gets $1 million a year to “consult”. Guess, $275 thousand a month wasn’t enough for him.