Let's face it, AT&T leadership has shown time and again that the only way they know how to cut costs is through layoffs. Which means that the 'tens of billions' in cost cuts will simply translate into a whole bunch of people being shown the door.
I'm just not sure how many it will be in the end. Any ideas on how many people constitute such a high amount?
Most manager positions will be some of the headcount-rationalization work we're doing on overhead, some of the benefit restructuring that we've done that we've already communicated out that get us a good way to some of our objectives this year.
It should be obvious by now that Randy and Stankey have no real management skills other than to cut payroll and sell off assets for temporary effect.
They line their pockets with millions, maximize short term profits and watch this once great company slowly sink like the Titanic.
This is not business management, it is piracy and plunder.
The savings is cumulative. The 20k employees reduced in 2019 will generate $2b in savings this year, another $2b next year, etc and so on. If they cut a additional10k employees each year thru 2023, the overall labor savings will be $16 billion. Probably more because wage & benefits costs keep going up each year with inflation.
Please don't refer to RandyStank as "Leadership". They are "Senior (Mis)Management". What leadership qualities does either possess?
Looks like about 10,000 more layoffs for 2020 according to Stank
" At the end of the fourth quarter he said AT&T was targeting an additional 4% reduction in labor-related costs in 2020 and expected the work to deliver an additional $1.5 billion in cost savings."
Head ‘em up, move em out!
https://arstechnica.com/information-technology/2020/03/struggling-att-plans-tens-of-billions-in-cost-cuts-more-layoffs/
From the article: AT&T also reduced its employee count from 268,220 to 247,800 in 2019, despite promising to use a tax cut to create new jobs.
That is a more than 7.5% workforce reduction. I think we will see employee numbers drop below 225k easily this year.
How many people is 'tens of billions' in cost cuts: All employees in the US, well except for Ratty, Stinky and their whacker minions.
I think the standing goal was to be under 200k employees. Not sure if this includes contractors or not.
Don't forget, Our incompetent leader already said "We can run this place with about 100,000 people"
Funny how him and Johnny will cut cut cut then run for the exists when they realize the company is in decline. Where is the growth Randy and John? You can't cut your way to success!
They only care about a temporary bump in stock values to satisfy Elliot and help inflate their golden parachutes. They could care less about the sustainability of the company since they don't have to deal with the carnage when it's all done.
They need to rephrase "too many mouths to feed" to "two mouths too many too feed"
There are more than 250K employees. 10,000 would be about 5% cut across the board. They usually cut 3-4 percent with cuts yearly anyway. If you add in an interest in leaving combined with the benefit change (no more social security sup insurance if you retire after next year) it would be easier to get to that number.
Well for simple math if a person is worth $100k for every $1B that equals 10,000 people. What it comes down to, there aren’t enough people to cut to may any real difference.