I know some recent posters have indicated that all the talk about reductions in headcount is all about nothing. Well, Stankey has just done an update - not good news for current employees or future health care for retires.
Cost transformation initiatives. Stankey said AT&T ( T ) has identified 10 categories of cost initiatives over the short-, mid- and long-term targeting double-digit billions of dollars in gross savings over the next three years.
People think they are going to give you more money to leave? Don’t hold your breath they can’t even give the correct lump sum pension buyout. They steal that from employees. That is who you are dealing with.
@luu - you understand wireline is fiber also right? a metric f-ton of it just to be clear.
@zto+13OHqcaI yeah dont hold your breath, you honestly think they are going to all the sudden change the MVO offer? get real man
Sounds like they may up the MVO or cut the severance plan. Let’s see what they do. My preference is if they offer a higher MVO I may grab it. At 26 years if they officer two weeks per year like Verizon did a couple of years ago, it would be hard to turn down.
@koa+13OHqcaI Truth after I got rid of att wireless all my cell phone work in my basement office. No more att wireless for me lol.
https://www.google.com/amp/s/www.thestreet.com/.amp/investing/att-buyback-plan-2020-guidance
Stankey wasn’t upset when Randall blew $4 billon on the T Mobile debacle or the DTV disaster!!
The reality on the ground , at least in southeast region , is the copper plant has been neglected AND management has neglected to replace copper with fiber to the home. SO, we are losing business to Comcast every day because we can’t compete with their internet offers, at least in residential. In business , we are a little more competitive. 5g wireless for home internet is years away if at all. It’s just not practical in many areas. Att struggles to provide more than one bar of 4g in many homes now; were supposed to believe they will be able to provide a decent 5g signal to homes ? The problem is one of HZ frequency. Here in Florida , Verizon and t-mobile have better building penetration than At&t with 4g. I doubt that’s going to change with 5g. I see a future where if the customer doesn’t have Comcast for home internet , then they will have t-mobile for home internet thru 5g. We are just not competing in wireless or broadband down here.
To be fair, some of these potential reductions in employment are the result of changing consumer demands and technology but a significant part is a result of having to eliminate the debt from the TW acquisition. Much of the necessity for these cost reductions are not so much caused by macro-economic trends but is self-inflicted as a result of poor management decisions.
You may be right about technology but during the era of switchboard operators being eliminated there was a significant net increase in overall telecom employment. Whether justified or not these initiatives will result in a significant net decrease in employment.
I'm not a fan of AT&T's management, but at some point people need to open their eyes to the facts. There are a lot of people being let go that work in traditional wire-line. And yes, I do understand there will always be a need for this type of work, but not at the volumes that it once was.
This makes perfect sense to me. How many people actually have a wired home phone anymore? The writing has been on the wall for these jobs for a long time. It s—s, but technology has progressed and we can't be expected to sit around and do nothing while making getting a paycheck.
I wonder if the switchboard operators felt the same way when they were displaced by technology.
news wire
No specifics regarding initiatives but double-digit means at least 10 billion $. If 1/2 of that is employment-related at $100,000 per average employee you can do the math. This is not good news.
Where did you see this update and if he has identified 10 things what are they?