Thread regarding AT&T layoffs

Time for CWA district 3 people to go on strike. But I hear that the persons with the highest seniority who the union only works for, are wanting to have their jobs eliminated instead; and get over 50 weeks "severance" pay. Same people that gave a way half my pension for those hired after 1998.

I’m sure Randy and company watched their favorite Christmas show, Scrooge! They turn it off when it’s time to have a heart, be thankful and giving.

Excerpts from Business Insider, Dec 12, 2019 by Hirsh Chitkara

The management structure initiatives will likely entail cutting and streamlining internal divisions, including those that may be redundant following AT&T's $85.4 billion acquisition of Time Warner in 2018. In terms of distribution strategy, it appears AT&T may be looking to further sell off networking operations in regions where they see the market as saturated; Stankey alluded to the opportunity to examine "how our customers are laid out" and "start thinking about what we do to take out layers of cost." In total, the plan aims to cut labor expenses by 4% - representing approximately $1.5 billion - in 2020, according to Light Reading.

Alongside the cost-cutting announcement, AT&T said it expects that, by 2022, it can retire 100% of the debt it incurred to acquire Time Warner. AT&T has critically reviewed business units to progress towards this goal: The company sold off its Puerto Rico and the US Virgin Islands operations for $1.95 billion and formed an eight-year partnership that provides Telefónica with access to last-mile networking equipment in Mexico.

Though the terms of the Mexico deal were not disclosed, it will certainly contribute to what AT&T expects would amount to $14 billion in monetization of non-core assets by the end of 2019. This monetization strategy goes hand-in-hand with the cost-cutting initiatives outlined by Stankey, as AT&T leaves no stone unturned in the quest for debt reduction.

I’m sure the AT&T C-suite will be an example to all of how real leaders lead. I’m expecting an email from them stating how they are living COBC and in these challenging times won’t take any pay raises, bonuses, stock options, subsidies, free gas, membership dues, free flights etc... While company employees are being laid off, rebadged or outsourced for poor C-suite decisions.

LOL, hahahaha, what was I thinking! This isn’t the era of integrity, ethics and living the Golden Rule. It’s the new woke era of globalism, socialism, greed, robber barons, 1% er’s. Tearing up a system of capitalism that offers hope, freedom and the pursuit of happiness. It has lifted more people out of poverty in the history of humankind than any previous system. Why do you think people around the world want to come to America? Though it isn’t perfect and needs adjustments to change from stockholders to shareholders so employees too can share in the profits in a fairer way.

I am not defending T. But this is not a "medical" subsidy that they are terminating. That terminology >is incorrect and leads to confusion. They are terminating subsidies for retirees once they become >eligible for Medicare, at which point their primary medical coverage has to switch over to Medicare. >Yes, they are taking something away. But educate yourself and use the correct terminology

No one has to educate themselves at all; Everyone clearly understands that they are cutting the subsidy that folks would use to buy gap insurance when Medicare eligible. Maybe you need to wake up and stop pretending all is rosey

To the person who wrote: "Alternate plan!
Forgo the 2700 per year and work until 65!"

I really had to LMAO over that post as if we have a chance to make it to 65? I have a better chance of winning the lottery.

The Global elite class have a morally unethical deficiency towards their fellow human. They have become more secular and uncaring about the human condition. Isolated in their superior attitudes of Us vs Them, while they prosper in all elements of their lives

LV-1dss, seriously, Mr. PR department, or someone’s COS..
People are allowed to take vacations and shouldn’t be Reading emails waiting for their their benefits to get cut. . Sneaky sneaky sneaky.

AT&t will soon be known as the company that’s Hates your parents and grandparents. When Verizon had to cut heads recently, they paid people to retire early. If AT&T is Such a great company why are they trying to pull this c-ap.

Funny how the HR boss Retired the day before this bomb went off.

For those of you who never had the benefit you were never coerced into missing holidays, birthdays, school functions to make sure you stayed employed so it would all be worth it when you retired. It was devastating to the folks that case after but at least they had 20 years to find a different company.

It’s a big deal and the start of the downward spiral Of benefit cuts.

I hope next years letter all include a 65k payout to cover this loss or better.

Don’t forget poor work/life balance for middle class & new hires

This should be in the News. It would make a good story for an investigator reporter.

• Breaking News -

Greed! The continual erosion of middle class benefits while the economy soars and elite class prosper. AT&T is the latest example of corporate America’s growing division. America is heading back to the bygone days of the Robber Barons vs the Serfs.

C-suite elite get large raises, big bonuses, stock options, better healthcare, better life insurance, company vehicles, free gas, free parking, use of corporate jet or company paid flights, office redecorated, country club dues, no culpability for poor decisions, live in a bubble etc... With the boards help also stock buybacks & dividend increases for an even larger payout.

Middle Class get erosion of benefits, layoffs, outsourcing, rebadging, pay more every year in healthcare, loss of supplemental subsidy, forced job mobility, ageism when close to retirement or service milestones, small to no raises, small to little bonuses, little to no training, collaboration zones, big data micromanaged, toxic workplace, mental anguish due to company directed management style etc...

New Hires get no pension, 401k that is based on companies benevolence for match rates, less life insurance, lower wages, higher healthcare premiums, higher deductibles, less stability, less training, less education payments, same toxic workplace etc...

Alternate plan!
Forgo the 2700 per year and work until 65!

Example for 60 year old; add $24k per year (catch up) in 401k (plus match). Put max in HSA ($4500) per year

24,000 +4,500 = 28.500 x 5 = $142,000 (match not included).

With Match and interest, that should cover well over 50 years at 2700 per year :)

That will cover quite a few years at $2700 per year!

The $2,700 is an annual amount that you can use to subsidize your monthly costs for supplemental coverage once you are medicare eligible. You can use it on part B or on any other insurance costs as long as you get 1 coverage plan through AON during annual enrollment. Those that retire pre age 65 do not get this company subsidy for insurance until they are Medicare eligible.

Talking a little over 200 per month which most make in a day. If this is a deciding factor for retiring early don’t know what to say.

Scrooge just delivered his good news for Christmas.

What’s next, all holidays will be cancelled? Get to work Randall’s and Stanky’s raise plus bonuses are counting on it. Bevis & Butthead

@12zjfELV-1kfj

The $2700 for 65+ medicare retirees is a gift from the company and has been promised through 21 or 23, I cannot remember which. After that it will be up to the company to recommit the funds.

12zjfELV-1pnk

Hiring in after 97 takes away medical coverage that is subsidized by the company pre 65 retiree and the email takes away 2700 subsidy for the medigap offerings from AON as a 65+ retiree in 21. You can still get medical as a pre 65 retiree, but you will pay the entire monthly cost, about $900 or so as apposed to the monthly you pay as an active employee. Retirees that hired in prior to 97 and under 65 age still pay near the same monthly as they paid as an employee. Mine is $30 a month higher than what I paid while working. Best plan for hire dates after 97 is to budget $1000 a month for medical if you retire under age 65.

I don’t appreciate the sneakiness of sending the email out when a lot of folks are already on vacation. When folks return they could miss the email entirely. Whose plan was it to communicate this holiday ruining email when they did ? mcdufis or stinky? As they roll their Lamborghini into the garage or is that another executive now on the consumer side....

Not everyone with 20+ years or MR75 is eligible for this benefit anyway. I've got both but was hired into Legacy Bellsouth in '98. This benefit requires a '97 hiring date for eligibility in my case.

There is still no assurance that the HRA will exist past 2023 for those of us who do qualify. I don't get to medicare until 2024, so I may be out of luck anyway. WOW some of us remember when if you went to work for AT&T you were taken care of for life.

I'm 57.5-years-old, and 21.5 years’ service, met Rule 75 1.5 years ago, and am a Manager. I feel darn lucky to have made it R75 without getting shot, though attended many all hands-on deck calls, and couldn't take advantage of MVO's when offered. And now feeling double lucky I've not been whacked with the 2019 bloodbath of outsourcing, surplus and MVO's, was excluded from the recent MVO that went out to all ATO. Now this: "Employees retiring after January 01, 2021 will no longer receive the medical subsidy (currently $2,700.00) after qualifying for Medicare". And because of this, it now looks like the only smart move I can make is retire by or before Dec. '20, if they don't get me first, and that would be good if an MVO or surplus, as I'd get a severance. However, I want to work 2 more years, when I hit 59.5, as to access a little from all retirement funds. What to do? It looks like this medical subsidy loss for anyone retiring 1/1/2021 or after, is what's going to finally drive me out. Perhaps I need to ask my Manager to please surplus or MVO me in '20 so I can exit with severance, which would be optimal. I'll retool for something new for six months maybe less, reemerge and work for the Man about another 10 more years, then truly retire.

Be grateful you ever got that subsidy. I am 6 months from being retirement eligible and I get no insurance subsidy period. My insurance from ATT in retirement will be $600-800 per month until I am eligible for Medicare. And that's for a high deductible health plan.

Can they take this benefit away from those who are already receiving it?

@-ydo, I heard of this yesterday, taking away the subsidy from anyone who retires on or after 1/1/2021 . But what do you mean they take it away from you later?

They won’t cut out the car allowance, gas and free parking for VP level and above. I’m sure that the company has paid Randall’s dues to the Augusta Country Club to he can attend the Masters next year!

The C-suite receives free healthcare so they don’t have to worry😂

I guess I know why they started taking away my work and forcing me out once I told them my wife had breast cancer.

@1uec

True it’s only guaranteed thru 2023 but it has always been renewed in the past. The current announcement and environment changes everything so, time will tell.

@1gkc

The retiree subsidy benefit for a union employee is not a negotiated item. Since it started, the company has always renewed it. But no more for future Medicare retirees after 1/1/2021

So is this what the CWA district 3/SE negotiated for us with their new contract?

It has never been in the contract?

The HRA only impacts people age 65+ who are on MEDICARE and purchase a Medigap or Medicare Advantage plan from AON. It is only "guaranteed" to continue thru 2023. So if you won't be MEDICARE eligible before 2023, you most likely will not receive this benefit even if you retire by Jan 1, 2021.

I did read that it only applies to management. I’m sure craft will be right behind.

This is just the beginning. My guess is next the 401k match is eliminated, sooner than later.

No one Is confused that this is a BiG sc@@w to employees with over 20 years of service. No more company subsidy for Medicare advantage, gee what are the chances of having high medical costs after 65 ?

I am not defending T. But this is not a "medical" subsidy that they are terminating. That terminology is incorrect and leads to confusion. They are terminating subsidies for retirees once they become eligible for Medicare, at which point their primary medical coverage has to switch over to Medicare. Yes, they are taking something away. But educate yourself and use the correct terminology.

@12zjfELV-1gpx Ending the subsidy is something new, hence the email announcing it will no longer be available.

It is something new!!! Now you switch to Medicare at 65 but with no $2,700-$4,200 annual benefit from AT&T.

During the recent benefits enrollment last month, there was a footnote that said only 25% of the current management employees receive subsidized benefits after they retire. This latest action caps that to age 65 when Medicare kicks in. Compared to the number of unaffected retirees that already get the subsidy regardless , this action is not gonna be a huge savings IMO. However it will encourage A LOT of retirement eligible employees to leave next year. That’s the true goal...Save money now. Twist their arm to get them off the active payroll, and stop paying into their pensions and 401k plans. It’s a quadruple win because retirees are typically at the higher end of the pay scale. Later, they may come back and start whittling away at the retirees, but that’s trickier because the C suite doesn’t want headlines saying the company is cutting benefits to older retirees.

Even with the current 2019 AT&T medical subsidy, once you turn 65, you must switch over to Medicare per AT&T Benefits Center.

Your spouse can remain on the AT&T subsidized plan until 65 and must also switch to Medicare.

This is not something new!

Returned to AT&T to get this very benefit and I am 2 years away from getting. Now I really don’t have a reason to stay anymore. There are so many people hanging on just to hit a 1m pension mark and others who have no where near that and lose a tiny slice of the pie. The greed by leadership as they crush the minions is despicable. How much more more can stankey waste, while shareholders and employees have to pay. That’s where wallstreet should focus their Time. Ie Direct TV

Next up - a reduction or elimination of the life insurance benefit. After that, there is no Modified rule of 75 benefit left!

All of this while the elite continues to graft and s— the company dry

Employees retiring after January 01, 2021 will no the longer receive the medical subsidy (currently $2,700.00) after qualifying for Medicare. For now, No changes for those that currently receive the subsidy.