Industry Leading Cost Structure

I spent 15 years of my life with ATT and I couldn’t be happier that I made a decision about a year ago now to leave. I keep checking on this board and things seems to have only gotten worse.

I couldn’t help but comment on the fact that the term “industry leading cost structure” seems to be thrown around as if this is something that ATT is striving towards. They have been using the same exact double talk for the past several years now.

What I find totally unacceptable is that you can say you’ve got such a great cost structure when two of the worst execs in business history have run the debt up to well north of $200B.

Every other company in the Fortune 500 has less debt than ATT. This alone should be enough of a reason to oust those clowns. Sadly, the only thing that happens is they keep paying themselves more.

One final note. The same execs keep getting recycled. I used to work for Anne Chow. How in the world she is head of the business unit is beyond me. Everyone at the SVP level and up needs to be taken out and new leaders installed.

End of rant...

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Verizon has about 160,000 employees and a net profit of about $16.1 billion. That equates to about $99,000 profit per employee. T has about 260,000 workers and net profit of about $16.3 billion. That equates to about $63,000. Elliot wants that amount to match Verizon. When it does, they sell the shop and head out.

Anyone believing that Elliot will come in, fire the executives and things will be like they used to is probably drinking some very strong koolaid. Venture capitalists don’t work like that. Spin off the assets that are not performing, load them up with debt and sell the underlying stock for a profit. A lot of those assets are the unionized portions of the company. Be careful what you wish for.

Industry leading cost structure could mean that a company is paying as little as possible to employees in terms of salary and benefits to keep their expenses down. Think about companies like Walmart that had many employees essentially subsidized by the government with food stamps and Medicaid. Elliott may get rid of Randall and his cronies, but it seems doubtful that anything positive would come from them regarding the treatment of employees since their only goal is to increase the profits/stock price so that they can sell their stock for a huge profit.

Elliot is no joke so changes are coming hopefully in time to get the titanic back on track! When Randall goes it will be presented as his choice to retire- joke! Does anyone know if the two clowns were at the people’s choice awards? It’s all about the people, aka customers. Did the clowns hear that loud and clear?

Hopefully Elliot Management can dump Stephenson out the plane WITHOUT his golden parachute.

Hopefully Elliott Management can get Stephenson out in 2020 as well as Stankey. New board members are added and hopefully they are looking to replace Stephenson in 2020 with a CEO that can profitably innovate and will clean out the stagnant, deadwood at the top including Stankey, Stephens, etc

well said

Thread regarding AT&T layoffs

Industry Leading Cost Structure

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