Thread regarding AT&T layoffs

I would be willing to bet that Fidelity has seen a rather large spike of queries regarding lump sum payouts lately.

I need 1.5 years to reach MR75 and I've already been running numbers.

The company has no idea the damage they're inflicting on themselves yet. All of these high priority projects ( especially for Corporate Real Estate so they can sell those high $$$ properties ) effectively just ground to a halt when all the people working on said projects were let go.

Seeing the bloodbath that happened in January coupled with the uncertainty of what to expect next has morale at levels so low I don't know if they will ever recover. I've heard more than once when asked about work that is now in limbo:

"F*CK it. Let it burn. They're not using productivity numbers to determine who is let go anyway. "

I was eliminated 2/12. Don't miss anything but my check.

"I get to go into work on Friday and drop off my Ltop and ID card to a coworker and then maybe if I'm lucky I get escorted out of the building (wouldn't that be nice) I don't plan to stop in to see any of my many many friends at work while I'm there. It will be Friday so most will work from home that day. Also I don't want to see them since I'm not very nice any more. I'm really torn up about this getting kicked out and very angry that being a good employee and doing whatever was necessary to succeed as a team got me nothing. "

and this is why there is not a lot of sympathy from the non management folks

WELCOME TO OUR WORLD

s---s to attempt to be a good worker, management or non, have good numbers,reviews etc. and still get sh-- on by the good old phone company. Once you realize that you are only a number on a spreadsheet and that's all you will ever be here, then and only then will you get along much better with the phone company way.

Lower margins and high debt is causing layoffs. Keep your head up and keep looking. Something better is on the horizon elsewhere for those forced to leave or who want to leave

Although I think the buy point of the stock is $30, I see it as a hold at this point. The dividend percentage is quite high, and with the Federal Reserve halting the rise of interest rates, dividend paying stocks should benefit.

Also, a few centuries ago, there was Tulip mania in Holland, where a bit of irrational exuberance bid up the price of tulips. Well, the tulip of 2019 is 5G and AT&T is in the middle of it.

As far as the debt, Randy said this:

https://www.dallasnews.com/business/att/2019/03/20/att-boss-randall-stephenson-much-success-failure-dependent-dc-decision-makers

"a major focus now is paying down the substantial debt AT&T took on to complete the Time Warner deal. That amount totaled about $40 billion, he said. And he hopes the company will have paid off about $30 billion of that by the end of the year."

I see a hold for the next couple of months. If one sees a reason to sell it, sell it. But don't sell anything on a "cut off your nose to spite your face" type reason.

Sell your AT&T stock also, it’s a dud anyway.

You’ll be fine man. Onward and upward. Take a little time to relax and then get after it.

"If the answer is NO then check Fidelity and estimate your MR75 pension. If there is no big increase you may wish to start looking for another job."

Exactly what I did and I left. The surplus game is sick and twisted and I did not want to be at a company that pulls this kind of c-ap especially when the market is hot where I live. If I stayed my pension was going to be a 150 bucks more a month when I met the 75 rule so it did not make any sense to stay and i wasn't going to get any medical. So all I missed was the big 6 month severance. Already made that money times three. I wouldn't be surprised if they make it less than 6 months in the future.

Leaving was the best thing I did. New company I am with does not surplus and actually grades you on your performance. Plus I am learning industry standard technologies not Att technologies.

Try not to waste your energy being bitter. Take advantage of the Lee Hecht Harrison outplacement support that the company provides. They will help you get your resume, linkedin, financial planning, networking in shape to start your future outside of AT&T. Best wishes!

What department? Sorry to hear that.

Good luck

I am 2-years until 62 and my wife soon to be ex never worked and it’s ny time now to enjoy life. It’s a new start and life will only get better getting rid of the two things that only made me miserable. Best wishes and good luck everyone.