T announced it will NOT cut the dividend, providing the rich even more money during this time of economic crisis. Read the full article here: https://www.forbes.com/sites/arielshapiro/2020/04/07/att-announces-55-billion-loan-signals-layoffs-may-be-coming/#5883d5311d9b
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In a year they will pay with layoffs. Awesome plan!
Loan has to be paid off by year end.
Fuzzy math here:
Say AT&T Lays off 15% of the workforce that's approximately 37K employees, estimate the average cost of an employee-salary, benefits, healthcare, etc @ $100K per employee that = $3, 700, 000, 000. Taking the $5B loan at low rates, use it to pay severances, then pay the loan off over 1-2 year with the $$ saved from the RIF and... there you go Bobs your uncle. I've heard all business units will be impacted, even the newly formed dedicated GBS & mobility sales teams
@1qqy+14nSgAhG. Well I guess I’ll bow to your superior knowledge of my situation. I’ll take my dividends and go watch TV.
This loan explains it all. As long as the C suite pays the dividend, they keep their jobs!!! It doesn’t matter what happens to the company or the rest of employees. Just them! This is what we are truly dealing with. They will do whatever it takes to pay that dividend by firing people, cutting benefits or whatever.
8k a year in dividends off T? Can I get some of that stupid?
you have a few other holdings and still make 8k a year in dividends off t? you're proving my point that you are both stupid and wealthy.
@1mte+14nSgAhG. I don’t consider myself wealthy or stupid, just a guy with a few stock holdings. T just represents a portion. You need to get out more. There are a lot of people like me.
If you’re making 8k in dividends a year then you’re either wealthy or just stupid to own all that t stock
Yup blame the upcoming layoffs on the corona but it’s all part of the plan to cut anyway. That’s the genius of how randy works. More lipstick on a pig
No place is safe
To avoid bad pub I think they will furlough employees. As time paces they will determine these folks are no longer needed and simply never call them back and eventually let them go.
In 2019 AT&T made 29 billion in profits after operating expenses were paid.. Why does the company need a 5.5 billion loan? They cant just be happy with 24 billion in profits in 2020? 20 billion? 15 billion isnt good enough as they accept the hit due to current situations? They have the money to cash flow it. They make billions in profits, still take tax cuts and they still want to take loans and still want to surplus workers.
Terrible corporate greed..
When Randy tells T tales of financially-solid-coronavirus company...I say Run and dont look back, lol
My 8k a year in dividends is appreciated as I’m not rich. I’m sure most of the dividends go to the wealthy but a sizable portion goes to people like me.
"Sizing our operations to economic activity" means running a business. Good job Randy.
It's been a slippery slope downward for AT&T during the past few months. The equity hit a nine-year low of $26.08 on March 23, with its 10-day moving average guiding the stock lower. While T has since toppled this trendline, it is now contending with pressure at the $31 region, and is down 22.1% in 2020.
Coming into today, six analysts considered T a "strong buy" or "buy," while the remaining 10 called it a "hold" or worse.
this is interesting as I pretty much said that yesterday and after initially being posted it was removed after. I assume due to "confidential" information but the information I got was from an external web site. oh well.
Hey site owner, quit being so "sensitive" you are starting to be like YouTube and Facebook.
they should of made it where who ever got the bail out should of given the taxpayer more in return. they should of first made the companies cut the dividend if they took the bailout and then stop all bonuses. bailout should be extreme measures not to keep BAU.
the taxpayer got screwed in this bailout. it was nothing but a transfer of wealth. its a fricken joke and it is socialism for the ceos and capitalism for the workers.
Layoff may be comming? LOL
the company never stopped, since 2007 layoffs every quarter ..tic- toc
have you notice they are givibg HBO for feee now?
where are the rich customers T was going after? you can't make this shiit up.. only Randall
AT&T said it would be able to generate more cash by “sizing our operations to economic activity”. This is 'corpspeak' that layoffs will again rise to the surface. The fact that dividends will not be stopped is also a clear message. The hammer will fall, just don't know when. I'm in the Summers org.