Okay, I have seen this information pop up all over, and I am wondering what is its source? Do we know for sure that severance at AT&T will be cut in half for any future layoffs? I've looked around for some official info on this, and came away empty-handed. Any info would be appreciated...
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I was am hourly non-union employee in CBB and was surplus in 02/2016. I took the money, severance, benefits, and ran. If you waited to find a job within 30 days of surplus and failed.... you got jack xxxx. Maybe different now.
Managers .... get ready to be screwed once again
The only reason they pay severence is to avoid lawsuits for age discrimination or other unfair practices. They see it as worthwhile versus the hassle of going to court. It's not out of generosity.
Bargained employees - severance is negotiated.
Non bargained (management) it can change at any time. I got 50% of my pay and was estatic to leave... Take the money and run.. There really isn't any future at this company anymore and leadership is starting to show it's incompetence.
Reasons why leadership isn't that sharp anymore?
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Digital Life
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few years ago they wanted to install TV's and fix computers for $199... not at&t.. best buy?.. maybe
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Exiting retail at a furious pace (yes it's expensive.. but when you lose control of your sales distribution.. never a good thing)
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DirecTV (argument can be made for cash flow increases.. and a secondary one for "satellite" space but it wasn't worth the money. Spreads the dividends too thin by paying w/ stock.. more dividends equals less operating cash
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TimeWarner... same argument as above - Overpaid... can T migrate to an entertainment company? Why not just migrate to a concrete mixing plant.. it's not their strength.. and they overpaid.. diluted the shareholder.. There's a reason why T is underperforming against other comparable stocks excluding Sprint.
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Closing their warranty centers (saving a penny to spend a dime) competitive advantage... but again... short sighted
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Offshoring all contact positions to overseas. Yes it saves money.. .and costs money.. Who wants to deal w/ someone in another country who is taking your neighbors job and can't speak the native language efficiently?
If T asks the CWA to amend the contract, they will do it. T owns the CWA.
Severance for non management is in the contract and bargained for can only be changed thru bargaining. They can do WHATEVER they want with their managers.
No more benefits working for this company? Without pension, severance, and other reduced benefits, who you think is going to work here? There are plenty of good companies out there looking for talent willing to pay higher salaries and benefits including pension matching 401k, 4 weeks Vacation etc,
In 2012, severance was cut in half, looking at their financial mess, and cheap labor, would be a perfecrpt Christmas gift to the newly unemployed, welcome to AT&T
I wouldn't count on severance. You always have to be ready to look for other work. Any go away payment is a nice to have but shouldn't be counted on.
AT&T has a contract with cwa through August 3 2019 no changes in severance packages could be made before then after that they would have to bargin for it
As far as I know it's just a rumor, but has been around since the last time the cut the severance
It's sort of expected that they will cut the severance at some point like other companies, but as of now it hasn't happen and they haven't announced doing it yet.
At AT&T anything is possible, I would not be surprise if that is the new way to get old employees out