Thread regarding AT&T layoffs

Took the offer. Not near retirement age. Had no job lined up. Worked out well as I started working within 2 months (contract) and at 4 months landed my perm job for more $, better benefits, better culture and doing similar things.

Talked to nobody in company prior to making the decision. The support post notice is a formality. Made the choice because was just sick of it all. It was 3 layoffs in 2 calendar years and showed no signs of slowing down. Continual re-orgs. Had been there 18 years in Mobility.

I probably got lucky I landed where I did but will take the result.

Have a serious talk with your financial planner and if he or she thinks you can make a go of it, leave.
Sad to say, AT&T is in rough shape, and there aren't any bright spots on the horizon. I took the MVO in 2018 and I'm happy I did.

Keep in mind your Health Benefit Coverage (Company Subsidized Insurance).

Ask yourself what will be your options in that regard as well.

Are you Retirement Eligible to get FULL Retiree Health Benefits if you leave and take MVO
(Do you meet the Modified Rule of 75).

If not ready to leave (or have no idea what continued employment will be , if required), then stick it out and stay. You have nothing to loose.

@uep

"Don't bank on any employment in your current field. There is none".

A blanket statement that is not accurate. I guess the folks I personally know that have left T somewhat recently and are working and doing well at places like Comcast, Nokia, even Verizon are not really working there.

I took the March 2015 MVO. Regarding your questions:

What were some of the things you looked at or questions you asked (and to whom) when making your decision?
A) I extensively interviewed Fidelity, Vanguard, and an independent advisor as to the feasibility of my living on the lump sum and other assets. They confirmed I could. Set up a meeting with those two firms and any others you like and get specific details to be sure you can survive if retiring.
B) I liked my job as an IT Sr. Tech. Architect. But Donovan sent out two emails threatening layoffs by the end of '15. I took those seriously.

Do you have any regrets?

• No. I actually make more money retired than when I was working at T.

What advice would you give now that you have experienced the MVO process?

• It's a personal life decision. I know current T employees that have tons of money but don't want to sit at home. And working from a keyboard isn't that bad.

It all boils down to can you live after leaving. Either thru new employment, or retirement savings. Don't bank on any employment in your current field. There is none. Unless you have a plan it may be difficult. In my book every employee in the company should have or be working on an exit strategy.

Fidelity has a wonderful retirement analysis tool, which I completed in detail with great thought about timing of all future expenses (new roof in 2022, child's wedding in 2024, new car in 2025, selling house in 2050, moving to assisted living for years 2050-2060, etc.). After using their tool and meeting with a Fidelity planner for a free 1 hour review, I felt good about retiring due to having financial peace of mind! https://myguidance.fidelity.com/ftgw/guidance/customer/nbGuidanceLanding.go?route=PP

A co worker took the MVO offered in 2018. He could not take the management any longer, and after close to 20 years he bit the bullet. He was not old enough to retire, but used the money to live on and get his head clear. He was able to find another job, and he seems to be very happy. He told me other companies do have their own issues, but the constant layoffs or worry about that really takes a toll. I don't believe he has any regrets. I myself received the MVO last week, and am close to taking it. If customers really knew what goes on behinds the scenes.

AT&T does not see us as people any longer. They see us as unit of work. What they don't understand is when you have a person who cares about the job. They choose to work more than 8 hours to bulldog an issue to resolution. They choose to not take vacation on black friday so they can be available for 15 hours if needed. This behavior is not a unit of work. It is done because you care about what you are doing, care about making the company the best it can be. Care about making your team & manager the best in the tower. But in the interest in cost savings, they throw these people out it really shows the true colors.

It is funny, my salary is nothing compared to the amount of money they give to Randal and others. It feels bad for them to say you are not worth this amount, as they continue to get millions in bonus.

Those who are younger, I hope you learn early that the company (ATT) does not really care for you. Everything sent out about diversity, or inclusion goes past Legal to try and prevent lawsuits. Anything they do is for public opinion. You are fuel and will used. Once they determine your job can be done by an H1-B or sent to India or Mexico, you will be thrown away. No matter what accomplishments you have made, no matter what you have sacrificed for the company.

I am fearful of finding a good job, as I do have a family to take care of. But if i do take the MVO and if it is accepted (I am not special so sure it will be) I will take time to clear my head, get my resume polished and start updating my skills that I have neglected because of the lack of time from working so much.

I wish everyone still left at AT&T the best of luck.

MVO = Management Voluntary Offer

What’s mvo mean ?