Thread regarding AT&T layoffs

Call HR. Let’s get back to worshipping John Stankey please

As the original poster, I will respond to several good questions posed.

1. Why am I posting? I am looking for others affected by this same error. (If you were laid off in Oct 22 but then got another role and stayed - and 401k contribution was not restarted in Jan 2023.) AT&T has admitted to the error, yet not resolved it and I was told there are others out there.
2. Did I notice the pay change? Yes. I was laid-off and then I took a new role (saved), the pay scale changed. I had already maxed the 401k for 2022, so my "new" paycheck stayed the same from then on. AT&T always 'restarts' the 401k withdraw in January without any employee intervention. Fidelity told me that AT&T "made a mistake" by not restarting my contributions and many people were affected by this error. (again, I am looking for others affected.) I did restart contributions once I found the issue.
3. Do I want sympathy? No. I realize that I did not check, but Fidelity told me "I did everything I was supposed to" to have the contributions made.
4. Can I do math? Yes, others have defended this - thank you!
5. Do I make $333K? No - I am an L2 non-manager at AT&T... LOL
6. Am I blaming AT&T? Yes. They have admitted the mistake, but not fixed it.
7. Do I think I will be laid off this year? Maybe -- if so, this time I am taking the package!
8. I actually also had bacon and eggs for breakfast yesterday!! LOL
9. I would absolutely accept crypto for payment!!
10. That was my first post here, I appreciate the support (and humor!) in many of the comments. Hope I can add to future discussions as well.

Anyone who doesn't notice an extra 20k in their paycheck over an entire year, imagine what they don't notice in their work, and they somehow made it to that pay level.

I asked but AT&T would not pay me in cryptocurrency.

Fidelity takes care of that and makes sure you do not exceed the before tax allowed amount and then everything else is after tax.

I put 35% of my pay in my 401k. They only match 6% at 80%. But that is great. I have not gotten up to 50% that AT&T allows.

You might want to be careful with that. You don't say if those funds are pre- or after-tax. If your 35% contribution is pre-tax and is in excess of either the $23k allowed if you're under 50, or the $30k you're allowed if you're over 50, it could involve those excess funds being changed to taxable, and you may also have a 10% penalty.

But good for you if you're in a position to sock away that much of your income! You're either super frugal or have the advantage of multi-income household.

Why did you let it go for so long?

I put 35% of my pay in my 401k. They only match 6% at 80%. But that is great. I have not gotten up to 50% that AT&T allows.

I had bacon and eggs for breakfast yesterday.

Imagine how many more people could stay on payroll if AT&T weren't saddled with a 6% company match.

100% of a salary divided by 6 is about 16. So for every 16 employees using the full match is 1 more person that could have a job!

He said 6% of his salary is 20k….

He absolutely did not. He said that he had to pay the taxes on about 20k that wasn't put into his 401k pre-tax. PLUS, he didn't get the company match on that employee contribution which was 80% of the first 6% of his contributions.

T hasn’t contributed to my rolled over lump since 2015. Someone should start a class action…

Cool story bro.

wow unreal only att

My 401K has been fine but my HSA is all sc--wed up.

Either you make 333k a year or you don’t math very well

What's wrong with the math? He's saying that he would have likely had 20k of his salary put into the 401k. The max employee contribution for 2023 was $22.5K or $30k for over 50 YO. A salary of $135k putting 15% into the 401k is $20,250. He's also out the company match, as he said. Though I do think it's a bigger issue that someone could go an entire year and not notice the extra $ in the paycheck, at least before March when any possible raise.

Are you retarted? He said 6% of his salary is 20k….

They needed your match to pay down debt.

you can put up to 50% of you pay in the 401k - after 18k or 22k - it will be after tax

Give Stankey a call or email. He will get it taken care of for you.

Either you make 333k a year or you don’t math very well

What's wrong with the math? He's saying that he would have likely had 20k of his salary put into the 401k. The max employee contribution for 2023 was $22.5K or $30k for over 50 YO. A salary of $135k putting 15% into the 401k is $20,250. He's also out the company match, as he said. Though I do think it's a bigger issue that someone could go an entire year and not notice the extra $ in the paycheck, at least before March when any possible raise.

Typical T manager mentality.

Wow, you didn't notice this and are blaming the company for it and then took to jumping on a job board to try and get sympathy? Sadly, this is why AT&T is in this mess, with employees like this..

D'oh!!!! Used to express sudden recognition of a foolish blunder.

This is so confusing. You are essentially blaming the company for you not contributing to your own 401K?

You can control your own contribution at any time.

How did you not notice hundreds (or more) extra dollars in your pay once you stopped contributing?

How is that the company's fault? What exactly do you expect them to do about it now?

Man, it is genuinely how detached from reality some can be. I am not trying to be mean but honestly, this is just sad.

Trouble ticket problem root cause = user stupidity.

T didn’t want to deal with the overhead of resetting 401K dedications since you are going to be laid off during a cycle this year.

You didn't notice the extra money in your check? Or ever look at a paystub?

Either you make 333k a year or you don’t math very well