Look around Meta, Twitter, Disney, Google , Verizon there's a layoff tsunami coming , leadership here at T has been very disingenuous about how many folks are getting cut Q12023 . Some say ~10,%pretty sure it will be more . leadership loves to follow the market so get ready.
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2023 will be like 2022 which was like 2021. It doesn't look like there are any more business units to spin off.
OP said - leadership is not being honest about the scale of the layoffs.
What did your hear from leadership? I have been in multiple town halls since the end of Sep. all have clearly said there will be a surplus 1Q2023. All have been careful not to give a number until the network operations town hall last week where they reported they anticipate loosing 700-800 of the 12k currently in the org by EOY 2023. I expect most of their target to be let go at the beginning of the year. Corey made it clear whatever action they take it has to happen very soon because Wall Street is watching to make sure T continues the momentum of the last few quarters.
The difference is that T has continually been laying off. For years. If you’re expecting tech company volumes at this late stage, you’re high.
Attached current and retired management. Which will happen first:
- management pension freeze going forward. Verizon did it a long time ago
- insurance benefits
- 60 notice as requested under warn act and no severance package
ATT has never cared a bit about the impacts of staff reductions on the business, its customers, or its employee morale. The C-Suite will get its money. The layoffs are about more than simple reductions too. It's about the "demographic transformation" Stinky noted in one of his inane company-wide e-mails.
If you have more than 5 years left to work, you don't want to waste your career or talents at ATT. You will regret it.
Pretty sure there are target numbers but not sure if they know how many people will need to be cut at this point. Hearing some groups are being offered under the radar offers for non management and getting takers. They are going to have to pay severance regardless. Issue is who will leave on their own and lose unemployment benefits, etc. That’s not counting the normal attrition that is taking place and not being backfilled.
A large new batch of Call reps were hired in AZ and technicians were hired in CA to backfill retired ones. I know this for a fact, not fake news!
Our business unit is down 20% of it's employees. Not sure if they are going to backfill the positions, but we are losing customers. Customers that sign up for multi-million dollar contracts. Someone needs to get their head of their ar-e and start figuring out where the dollars come from. Cut headcount all you want, but as customers exit, most likely they won't be back. As JS said, the networks are all good in today's world. If the service when they need it is as good somewhere else, why return to T.
Which business units are hiring during the hiring freeze?
10% of 208,000 employees equates to 20,800 cut. Realistically, that’s not going to happen in a quarter or even all of next year. Don’t fret people, it might be that many over the next 3 years, but that’s it! I know of business units hiring during a hiring freeze, so there’s still hope!
Verizon is the only company on that list that’s even in the same business as us. Some people think it will be huge layoffs and some think nothing will happen. Usually the answer is somewhere in between.
A phone company does not need that many workers.