Thread regarding AT&T layoffs

When you reward failure, you get more of it. I retired 18 months ago and haven't missed the place one day. The few remaining former colleagues I routinely talk with have nothing positive to say and are counting the days until they can walk. It's amazing how two guys utterly destroyed a once great company.

"If you know the history, you know this ain't all his doing."

If you know history, then you know Stank was a part of all those disastrous decisions. As well, you would know that he ran TW into the ground, and just about every decision he made was reversed when he gave up control of that company. You would also know that Stank does not know how to grow revenue. After spending roughly 100B in capital since he took over, the company has increased revenue $2B, and that is coming out of Covid. Further, you would know that what Stank knows best is how to cut head count fecklessly.

I am going to quit and get a job at another company.

@e9
This isn't 'painting a picture', it's a hint that some of you need to examine what is happening. The greed and corruption in American corporations runs long and deep. Thanks to unscrupulous lobbyists, historical corporate leadership and politicians, Corporations aren't looking to ensure your success and prosperity. It's a one sided game. This corporation was awarded millions in tax breaks in 2017. But they still surplused over 23,000 employees between 2017-2019 and still managed to give themselves million dollars in raises! The 'morale' and under performance you suggests is a happy distraction for those in power. Do you think anyone cares about your 'morale'? This isn't an existing sitting CEO problem. This is capitalism. This is a corrupt system so entrenched into the society that workers focus on fighting each other about RTO and unauthorized use of vehicles.

@e2 paint whatever picture you want to make yourself feel better, but the reality is in his 5 year tenure things have gotten much much worse here from the general state of the business, cultural, financial, and employee satisfaction. Morale has never been lower.

So many opinions, so many ideas about the current leadership and how to fix things.

Remember Ed Whitaker who grabbed up the old ATT, (we were all excited about that deal-- meaning those of us from SBC). But then Ole Ed took a platinum parachute almost right after that deal and he retired to GM. GM -- an old telephone guy then running #2 car company--where he led them into bankruptcy and then walked away. Thumbs down on Ole Ed.

Next up was Randall Stephenson. Oh boy. He was like a kid who'd never tasted candy and then went trick or treating. He bought everything under the sun! Literally! He was wild with excitement and anticipation of success of every venture. Not a bad human....But so many failures! He was a shopaholic ! Then Randall left!

John Stanley moved over from Entertainment and his main job was to clean up those failed ventures, adapt to changed technologies and keep the company afloat. Covid hit and he was presented with a different plate of messiness! And he's still in the middle of recovery and rebuilding.

If you know the history, you know this ain't all his doing. His predecessors were the real villains in the story. But know the history if you want to give your opinion. At least have some facts and not illogical nonsense.

“ Rubberstamp BoD won’t ever do this”

Because they are totally complicit & get their cut of the graft.

@d9 too bad! The complaints won’t stop until the RTO policy changes. May be time for you to get on board with the majority or leave

“I guess your husbands and wives are sick of hearing about JS and RTO. so you come to an anonymous forum to cry and moan.”

We’re also sick of hearing it!

@cw sure, I’ll take anyone from outside. Atleast he is only RTO 2 days a week policy.

@af how about Hans Vestberg?

The “market” doesn’t seem too receptive to his tone deaf “market approach” to the business.

Maybe we should go back to the approach where employees are treated humanely, respectfully and ethically regardless where their “presence” is.

And fire stupid Stank.

You all really need to get out now. They will continue to take your retirement and everything else. I understand a lot of people don’t meet the rule of 75 but if you do run…fast

@b3 that can only mean one thing you and the Stank are ... beep......... beeep........

"What contributions have you made in the last 5 years?"

I didn't milk the company for $122.6M in compensation from 2020-2024 while the stock price remained flat.

@b3 🤣

Rubberstamp BoD won’t ever do this, and even if they did, Chairman Stinky wouldn’t allow it to go forward. Checkmate, plebs.

Gargamel, I mean Stankey, should take his golden parachute and let ATT have a chance

investors don’t see John stankey as someone capable of making real change. Until the board gets smart and follows its competitors by bringing in an external CEO, the stock will likely stay stagnant. Only an outside perspective can turn things around or make investors see it that way

We need to speak in terms that the Stank understands, he thinks of himself as a Porsche, when in actuality he is a salvaged puke yellow 1984 Yugo.

I guess your husbands and wives are sick of hearing about JS and RTO. so you come to an anonymous forum to cry and moan.

Who in the literal F—- is actually on here defending STANKEY?!? You can like him all you want because he is so human, and caring and relatable (are you at least intelligent enough to pick up on sarcasm?) but you have to be out of touch and absolutely ignorant to excuse his actions as CEO. Defend him all you want but he can give a literal sh— about you and apparently even less about the company he has singlehandedly ruined.

I’ve said this in other threads. Get rid of him for what? McElfresh? Robertson? This company is not hiring from outside. So, get rid of one a-hole and insert the next groomed one. Sounds fantastic.

@ab OP here. I’ve saved the company millions, not lost billions. What have you done? Or are you just a leech?

@a9 the stock maket was literally at all time highs yesterday. The stock has been down for months now. How out of touch are you?

What contributions have you made in the last 5 years?

@a3

Wait, wait, wait. Don't we have to live under the ruling in Ford v Dodge, that all decisions and actions must prioritize shareholder value? I can't imagine that ongoing operating costs like that are really putting shareholders first.

When's the first lawsuit?

RTO is here to stay. The total stock market was down. It was not because of Mr. Stankey. Ge-z Get a life.

If we end RTO, thee wall street heavies at Blackrock, State Street, and all the other pension fund managers who are desperate to prop up the CRE sector will threaten to sell their shares, sending the stock down to single digits. Too much power in the hands of too few boomer psychopaths.

Think time for him to be put on PIP Has to be the worst CEO of any companies today.

OP “it’s time for real accountability”
Your statement could not be more accurate!
Unfortunately, the pompous narcissist that is at the helm will never admit his failings. It is not in his DNA. He will deflect, blame others and continue to destroy what was once a great company.

567/875/0

567/600 culture — 875/900 place to work — 0 stock price value added

AT&T could save billions and retain top talent if it ended mandatory five-day RTO. Office space, utilities, maintenance, security, and on-site operations cost between $12,000 and $14,000 per employee annually. With roughly 150,000 U.S. employees, that’s over $2 billion a year. Allowing half the workforce to go hybrid or remote could save around $1 billion, and adding retention improvements pushes potential savings past $3 billion annually.

Ending mandatory RTO isn’t just culturally smart. It’s financially responsible. It saves billions, retains skilled employees, boosts productivity, and aligns AT&T with the realities of today’s workforce, remote work is the future. The evidence is clear. The policy is failing. It’s time to change.

Easy way to boost the stock price would be to cancel RTO altogether and sell off the wasteful office space and associated costs. We ARE a telecom company who provides the ability to work from anywhere, but we don’t even do it ourselves.

I think it’s time for a vote of no confidence