Heard that AT&T is going to offered a VTP / SIPP offer to all retirement eligible, thinking they would get a large number of takers. And save some of us younger employee's jobs. Has anyone else heard about this?
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I see VTP/SIPP being offered to business units with excess (and idle) force. In other words, business as usual.
@axn- You could not be more incorrect. Jeff McElefresh (President- ATO) sent an email on Friday afternoon (this type of news is always sent on Fri afternoon) requesting retirement eligible seriously consider leaving while still eligible to get their lump sum pension at last year's interest rates. ..and also warning of "...reductions in our organization, and others across the company, which will begin later this month and take place over several months". This went out to all ATO management. So I would expect another communication probably this Fri 1/11 or Fri 1/18 the latest, where the affected workgroups will be notified. The Directors in the affected workgroups will be given their numbers and will select the folks to be surplussed with the input of their AM's. Same old song and dance.
It depends on your organization and group. From what I have seen if you are identified as in an impacted group you will get a survey to volunteer to leave. If you aren't in an impacted group you can still leave but without a package.
@jvy add MVO = management volunteer offer (circa 2018)
@axn - no offense, but have you been under a rock? There are layoffs going on right now and more to come in coming months, as announced by at least one AVP, McElfresh via townhall.
There will be no layoffs until the last acquisition is 100% approved and out of Trumpkins reach.
I’m speculating but I would say late summer before the hammer falls. In fact might save the axe until 2020.
What do y’all thank?
Every 3 months for craft, set your watch to it.
Reading this board is like going to CNN's news feed. Mostly fake, unusable information.
This may be up to each organization, but will not be the case for all. T has numbers to hit NOW and cannot afford to wait around and see who bites at an offer. Expect 2019 to be a bloodbath. If you manage to keep your job, expect to loose alot of good friends.
SIPP = Supplemental Income Protection Plan (Legacy "S")
VTP = VOLUNTARY TERMINATION PAY (Legacy "T")
No... This means that they want to act like their doing something nice before they slaughter all the rest. Remember... Lean and Mean!
Haven't heard that but I doubt it given that a lot of orgs are doing involuntary layoffs right now. makes more sense to offer the voluntary ahead of an involuntary (which you might not need if you get your numbers with the voluntary). but it wouldn't surprise me if ATT's ruling class can't even get that right.
I hate acronyms... :-) What do VTP / SIPP stand for?