Why aren’t they off-shoring exec positions since, you believe this is all about money? How can one justify millions in salaries and compensation packages, for failed performance and no accountability? What is labor’s value, who meets or exceeds? Hypocrisy!
The company is so generous, D3, 401k (cash balance) max match for top craft, avg. is 2k @ year, what is your’s? I know 2k sounds exorbitant to give “Labor”, after all they are the lowest caste and only deserve scraps, from a net multibillion dollar a year, public traded company. In case you are wondering pensions are no longer offered for any bargained employee hired after 2009. $2k @ year, in 2024 is nothing especially, when they traded out fully company funded pensions for a small cash balance match and that’s if, an employee contributes first. The company has control over the match too, it gets less every year. It used to be nearly 100% match at first but over the years, has been reduced to the 56%-65% range.
The pendulum has swung so far one way that it has to return, if not, it starts social upheaval in countries which, results in socialism then, communism. Ever hear of the Bolsheviks? Capitalism only works with some regs in place because otherwise, those in charge, rig the system and the wealth gap increases and you end up without a middle class. Who will buy the products then? It becomes a nation in decline. Ask Cuba, Venezuela, Argentina what happened to their once thriving economy’s?
CEO’s are making on avg. 287 times the avg. employee. BOD’s are nothing but an elite country club, where everyone is voted onto each other’s BOD and rubber stamp everything, base corruption. Hollowing out high to middle class positions and off-shoring overseas, for $$. All while destroying companies innovation, culture and growth. They are using them as their personal ATM’s until, the company is but a shell of it’s former self.
Can anyone say AT&T is more successful, stronger, innovative or a leader today like, it was fifteen or twenty years ago? No, because the elites, and Wall St. funds have been su-king it dry while eliminating hundreds of thousands of good paying positions, R&D, selling hard and intellectual assets, reducing or eliminating benefits, changing policies, etc. They are trying to meet financial guidance. They are getting more desperate every year. There is a reason that AT&T has fallen from being number 1 and a leader, it all rest on leadership and their Wall St. masters, not Labor.