This is not Covid-19 related as CNN will probably report this summer when given what to report from Senior leadership as they never covered the last 25,000 layoffs since 2017 and when asked by multiple other media outlets AT&T claimed "We are hiring". No voluntary offer to get people that want to leave off of the payroll- only additional Layoffs or "Headcount Rationalization" as John Stankey likes to call it. McElfresh touted 200K Internet adds yesterday when Comcast added 512K in the same time period. Maybe if we stayed a Telecom instead of the 3 very questionable mergers (1 failed) and now owing the bankers over 160 Billion dollars- thousands of Jobs would not have to be destroyed. Pitiful Leadership and decision making in my opinion.
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Big, beautiful cuts that will make AT&T great again. Everyone here is going to say, "wow, those were great cuts, how did you make those cuts so great?"
Selling the assets mentioned below will not yield the 1.5B in savings this year. First, with the economy the way it is finding buyers may be difficult. Secondly, I don't think any transactions like those you mentioned would close by EOY. Of course rebadging makes large scale reductions possible, but (I assume) these folks basically become contractors and their time is billed to ATT but eliminates benefit, 401k match, pension contribution (where applicable) expenses, etc. Because it is still time billed to ATT I don't think they can get the desired savings. Given the economy, the contract firms that would most likely take rebadged employees are not going to absorb these people just to help out ATT.
All these thoughts / opinions leads me to believe the 1.5B will be done by letting people go.
- 5 Billion in "recurring costs" so 15K could be right for 2020.
Could really minimize the pain and cut a couple of executives to save that $1.5B.
CNN will be great. AT&T will be great. Jobs will be flowing soon. Just a minor short term stumble that will be over very soon. Trust me.
CNN has nothing to do with the mismanagement at AT&T but everyone has to get their politics into it. Why don't we get Stankey to buy Fox News for a gazillion dollars...he'll step down and become POTUS in no time and he'll take care of us after and everything will be just fine...and we'll never lose another job or have another layoff ever. Sure...keep drinking all that political kool-aid.
15,000 jobs isn’t even a 7% reduction in the workforce.
Couple of bumps in the road but it will all work out for the better in a very short while.
Pop'in Fresh???? nacho and sour cream burrito enchilada, taking a massive sh– huge t–d coming out of my a–. That was one hot clip. There is many more of this and other hot videos on our tube @ att tv.
Who is Pop'in Fresh????
Here is an observation, McFresh was clear and dry about cutting 1.5B cost and it will start in the summer. Everything else said was a complete blur. TV numbers meeting expectations, which translate into how many $?
When will these awesome executives state the goal of achieving 1.5B growth in revenue and tide their pay and bonus onto specific measurement. No way in hell that is going to happen, they will use fuzzy math and words which will benefits their pockets. When it comes to cutting employees, real black and white numbers and specific timing announced gleefully as it was winning news. No, we can't win by cutting cost, but cutting cost is really the only thing they are good at.
Stank said 50 million subs for HBO Max by 2025, notice he didn't mention new revenue from the 50m subs.
Yeah it's your fantasy so you can rave about how it would have been so much more successful if it wasn't for...
Here it comes. Fasten your seat belts and brace yourself.
Stinky needs to go.
Pop'in Fresh needs to go.
Zucher needs to go.
Board of MisDirectors needs to go, otherwise we will get more loosers...