http://www.zdnet.com/article/att-q4-2015-earnings-revenue-internet-things-cloud-networking/
6 replies (most recent on top)
Haha !...the internet of things ruse= layoffs/ outsourcing
well said wuu,
I would really like to see a tech buyout. Google would dominate this space. I don't think this whole buy stuff - cut work force - outsource - hide money - find pension money cycle can last much longer.
Beginning of the end.
The company is fine. Randall, however, maybe not so much. He has been pulling the old trick of buying new companies to show growth on paper and hide all of AT&T's losses in the companies they acquire. However, that trick can only work so long because eventually you have to have growth. So, he's trying another old trick...slash the workforce. He's tried hiding all of this by using big fancy buzz words like "Internet of Things" as a way of covering up what he's doing. But, these things still need implemented, so AT&T is paying vendors a lot of money to do the work and that cost is off-setting the gains by reducing workforce.
T has always been a mediocre stock because it doesn't grow and it doesn't pay a good dividend. I'm honestly surprised the shareholders have given him this much time. Eventually he will be gone.
The smart play is to put all the money going towards vendors and acquisitions into actually re-training the workforce and using them to implement the IoT and stuff, but AT&T has never been accused of making smart plays for the long term.
where are you reading "life support"....the actually were very close to street expectations. Not sure how long term sustainable this all is...but its far from life support.
The company is on life-support