Thread regarding AT&T layoffs

if you are quoting the head of jp morgan or blackrock you are not going to win your case. they are sc-mbags just like the people who lead att.

There's nothing to RTO except a scheme to get rid of older employees, and do it in a phased manner so cheap Indians can be brought on instead.

The CEO told you so himself on that town hall.

Shifting from working five days a week in the office with occasional remote work to working entirely from home during COVID, and now transitioning to three days in the office and two days at home, is acceptable to me. However, the criteria for determining who can work from home, who needs to relocate for work, and other related policies are extremely biased and inconsistent within the company.

A few years ago, we were told that certain buildings would be sold off. Then COVID hit, and now we are putting people back in those same buildings, doing the complete opposite. It makes you feel that decision-makers have no clue what they are doing.

A simple carbon tax to offset the environmental damage of forced commutes would go a long way to letting us work remote.

In case anyone forgot, we had the best weather in decades during the quarantine. The immediate reduction in air pollution was incredible.

This is ancient history. RTO is dead already. Don’t bring up here the news from the past. Who cares what other CEOs said and why.

We underwrite to current rents, not future rents,” Barnum said. “We don’t underwrite based on the hope or the expectation of market-rate conversions on the rent-controlled space.”

While other banks have a larger exposure in their loan books to the ailing office real-estate sector, JPMorgan Chase maintains just a $16 billion office-loan portfolio compared to its $200 billion in total commercial real-estate loans.

That $16 billion figure “is quite small in the scheme of things, and particularly small for us as a company,” Barnum said.

JPMogan Chase is a bank now and they have a large portfolio of commercial real estate loans. He is protecting the bank’s assets. He can’t have these customers declare bankruptcy and affect the bottom line. He is leading by example so other ceos will use his logic. If banks go down so will the economy (too big to fail).

Well, I mean, I think there's an important detail here nestled in the message about Jamie Dimon's expectations.

Every meeting I've attended (I'm a subordinate) when Jeremy Legg, Jon Summers, Ward Chewning turn on their cameras, they are working from home (with Town Halls being the exception).
Sneakers on Town Halls.
They wear jeans, tshirts, Under Armour pullovers, they don't tuck in their shirts.
Legg curses several times on EVERY meeting he hosts including Town Halls. He thinks cursing is a cost of getting your attention, but he's unprofessional.
Someone gets gaslit in their garbage examples.
Brown nosing Directors crack jokes about "oh, hey your office looks nice, maybe I should come in some day" before they tell you, you are about to be laid off (happened 2 weeks ago).

They don't follow their own policies or behave in the way they expect their workforce to behave. Sure, they get paid big bucks blah blah blah, etc ... but LEADERS, not managers, KNOW that they EARN the respect of their subordinates, when THEY DO IT FIRST.

This set of executives at ATT are the biggest overconfident slobs, with no skills, no ability to connect with the workforce in any significant way.

Wear an expensive suit when you sit on stage and sweat like pigs you incompetent clowns, because that IS the image I expect YOU to project because YOU are making the big bucks. Quit cursing like you think we live in trailer parks. Be the image you want us to be. Work 5 days in the office Legg, you overinflated, overweight bag of wind.

NOTE - if anyone wants to copy this message and blast it out in a Town Hall message chat, be my guest. Light them up.

“ most of his employees are in the financial sector housed in NYC”

JPMorgan Chase’s Plano campus will host 6,500 jobs..

@ttm: "Dimon has been known to make great business decisions"

https://wallstreetonparade.com/2024/04/jamie-dimon-huddles-in-private-with-biden-bigwigs-as-his-bank-faces-more-crime-charges/

'Last year, JPMorgan CEO Jamie Dimon sent a memo to staff asking that managing directors come to the office five days a week, and warned other employees that they needed to attend in person at least three days per week. “I completely understand why someone doesn’t want to commute an hour and a half every day, totally got it,” Dimon told The Economist last July. “Doesn’t mean they have to have a job here either.” '

Thank you, John Stankey, for this justification. Nice try.

Dimon has been known to make great business decisions (you are not), most of his employees are in the financial sector housed in NYC, and worked in an office environment prior to COVID lockdowns. He did NOT state that "we are requiring everyone in the office irregardless as to whether you were an office worker prior to COVID lockdowns, we will consolidate those offices have 9 locations but intention is to consolidate into 2 locations so if you were an office worker it's likely your office no longer exists therefore we will expect you to move across the country on your own dime AND we will not guarantee you will have a job once you move with your job because we may (read 'most certainly') deem that job no longer needed once you and it arrive". --- Dimon's policy and Stankey policy is like comparing apples to oranges. Not even remotely the same thing.

The correct acronym to use is having employees Return To Work (RTW).

Gotta get workers into the office and actually work.

Business parks are converting commercial properties to residential. As that trend progresses RTO will ultimately become a thing of the past.

Guys like Diamond are heavily invested in corporate real estate, they need people in the office so they don't loose that money.