With high interest rates and families that have dual income earners AT&T’s relocation ultimatum will be too disruptive. In addition, job security is not guaranteed even if you relocate.
People just have too many family commitments and obligations that this would be a hardship!!
I couldn't buy a garage on the West Coast for the cost of a median house in Dallas.
If you have to relocate to Texas expect to pay more for living expenses
Depends on where you’re coming from
Not true from where I live
There are two modes of thinking,
Mode 1: "Wow, I get to move to Dallas or Atlanta."
Mode 2: "Wow, they want me to disrupt my family, leave my friends, my church, my social organizations, and sell my home to go to Dallas or Atlanta, for a job they might lay me off from the minute I get there."
If you are a Mode 1 person, seriously, you need to stop living for your job and start living.
Who would want to move "up" in AT&T? This best way to make money from AT&T is to sell them your failing company at $2 on the $1. Management (Legg and Stankey) are the arrogant S-B's.
You wanna move up in this compy? You had better be in Dallas or Atlanta.
Time to short the $T
Multi generational households in one home won’t go. Those caring for parents or having children living at home with jobs would won’t go.
Those that were redeployed from one of the “hub” cities for business reasons and now are forced to return should be given an exemption or receive mortgage subsidy payments that take into account higher interest rates.
Great points, which they likely factored into the policy decision. And it’s why they did it: No severance. Beautiful in is mastery. Solid MBA move.
Moving from a 3% mortgage to a 6% mortgage will be too costly on the same salary! The only ones this makes sense for are those making well into six figures, don’t have a mortgage and can purchase a new home with cash!! For those at the lower levels and have two earner families this will be too costly!!!
Those in their 50’s that are 10 years or less from retirement probably won’t go. Also, if you have a spouse that has a job and is on the cusp of retirement and can’t work remotely this is a non starter.
And the stock price will continue to fall
If you have to relocate to Texas expect to pay more for living expenses-Housing, tolls, kids activities etc, food is more costly due to the growth.
Best of luck to everyone and hope you all make the best decision for you and your family.
Having done it several times, I would advise those considering it to really think hard about it, especially if you have a family. Unless you were already trying to get to one of these cities, I wouldn’t recommend it unless there’s no other job options in your area.
This is aimed at the VP’s and SVP’s that are secure and won’t feel any hardship to relocate.
Once again the cream of the cr-p will remain. Talented people with skills will move on and marginal people will scramble to stay employed. The nightmare continues.
Stankey and Comp. are expecting exactly this sentiment.
It’s true some will not be in an optimal “season of life” to realistically consider relocation. This is the circle of life.