I think I might be targeted for surplus. Has the severance payout policy changed? I looked for information and documents suggest no. That is, has the severance changed from number of years employed to role based (L1/L2 manager). If so , they should be so ambiguous about and clearly state the policy.
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HR??????????????????????????????????
Please help all that are retiring or surplused.
It's true, your age and ATT years combined have to add up to 75+
You are retired!
HR??? You get the totally uninformed "person" if you call the given number: 1-877-722-0020 or 1-800-416-2363, 1-800-393-5297n or lastly 1-888-722-1787
2 years into retirement and I still can't get clear answers only frustration.
Get company contacts and numbers. The ATT Retirement library of booklets is so outdated, get all contact info asap with manager (good luck)
@OP IF your years of service, plus your age equals 75? While you will potentially be on the hit list, oh I mean surplus list; you won’t be officially surpluses. No sir, you will become officially retired. Without permission HR will code you as retired. This is a tactic they use to keep layoff numbers low.
" A new severance plan is in review and will be released as part of the 1Q2026 reduction plan. This plan should not affect the remaining reductions for 2025."
^^^^ Made up nonsense from one of the people here that finds joy in perpetuating made up rubbish. Complete and utter BS.
A new severance plan is in review and will be released as part of the 1Q2026 reduction plan. This plan should not affect the remaining reductions for 2025.
“Cash Out" and "Rollover" are vastly different concepts.”
Roll over Beethoven
Tell Tchaikovsky the news!
"Mo--nic! The 401(k) is YOUR money
You can still cash out a 401K and roll it into an IRA without penalty."
Dimwit. You're the one causing confusion because you don't understand how to use words.
"Cash Out" implies well, cashing out. Which can be subject to early withdrawal penalties unless you are 59 1/2 years of age, or use "Rule of 55", if applicable.
A direct transfer rollover into an IRA (DO NOT request and cash a check, or you're doing it wrong) is fine, and will incur no penalties or tax liability. Fidelity will help you do that.
Learn how to use words, so you don't sound like a dimwit.
@a4
Then I will leave & sue
@at
Yup... the last round they surpluses the 2 oldest people.
You looked and it suggests no so Why did you even bother posting here?
"Cashing it out under 59 1/2 incurs a 10% penalty.."
Not always true. Rule of 55 or SEPP.
They do whatever they want. If you signed a contract it might be predictable. If no contract then it will change everyday.
Mo--nic! The 401(k) is YOUR money
You can still cash out a 401K and roll it into an IRA without penalty.
Consider yourself lucky to be targeted. I know three people who tried to get a package and they claimed there wasn't one available and are leaving the way the Stink intended...getting nothing.
@b2 "cash out your pension or 401"
Mo--nic! The 401(k) is YOUR money, held by a public third party, Fidelity. Cashing it out under 59 1/2 incurs a 10% penalty + taxes at your current rate on any pre-tax contributions and Roth, if the Roth is less than 5 years old.
The balance may even be enough to slam the OP's tax rate much higher.
cash out your pension or 401 and sue... You stand way more to gain than what they are offering . HR is NOT YOUR FRIEND .
“ What people don't seem to understand is that this is already below industry standard. They are unlikely to reduce it further.”
Agreed on the former and let’s hope so on the latter. Those avaricious Machavellians would just love to eliminate it all together.
it's not a severance policy. it's bribery so you cannot sue for age discrimination. in fact i doubt they would lower the "severance" cause more people would sue with less to lose.
The bargained for as well as Management Severance policies are on HR One Stop for anyone to view. They have not changed, despite everyone here saying it is imminent for the last 5 years or more. Management cap is 6 month's salary.
What people don't seem to understand is that this is already below industry standard. They are unlikely to reduce it further.
I can confirm it will be reduced soon. It's getting a lot harder to sue the company so they can reduce the severance.
I work in the Midwest. It caps out at 88 weeks pay. I believe it is higher in other parts of the country.
Remember, severance is paid in return for agreements. Namely, waiving the right to sue and accepting non-disclosure.
While we've heard, for a long time, that they plan to move to this 4-week / tier structure, I doubt they will. With 6 months of severance, the vast majority of people are willing to sign on the dotted line. With level 1s receiving only 4 weeks, I suspect many will opt to forego the deal in favor of lawsuits and spilling the tea with respect to many of the shadier aspects of AT&Ts day-to-day business operations.
Still the same right now. Rumors are it’s going to change soon though. What I heard was max 4 weeks per level coming soon L1- 4 weeks, L2 - 8 weeks, L3 - 12 weeks. Those are the maxes I’m hearing are coming.