Thread regarding AT&T layoffs

Here's an article on Citibank operations.

https://finance.yahoo.com/news/citigroups-investment-banking-unit-cut-205617687.html

"Citigroup Inc's (C.N) investment banking business could shed as much as half of its 20,000 technology and operations staff in the next five years due to automation ... Under tremendous pressure from investors to boost profits, but unable to grow revenue much, banks have increasingly turned to technology to reduce costs."

The whole technology operations type jobs are ripe for automation and AI. I think AT&T is going to be one of many.

And please don't think the TW employees will be let go ahead of the T employees. They are the "content" people, not us. My department retained more DTV people than T staff, since that was the direction and our leadership was DTV-heavy.

There will be mass layoffs, merger or no. That has been the plan and nothing has changed.

@TABxG9B-1odx - because T needs to get rid of older employees with a pension ( or rising health care costs), automate and off-shore jobs, pay off the merger debt, dump union employees, and it factors into increasing the stock dividend. That is basically their whole business plan now. merger or no merger ... layoffs are coming. sorry :(

The number one reason for layoffs is the mothballing of the landline telephone business. That doesn't change, merger or no merger.

The number two reason is automation. Supposedly, they have simplified network management through SDN. If so, they don't need as many people in operations.

If the merger IS approved, why would there be layoffs. Maybe with TW but not AT&T employees.

What does “operations” do?

If the TW merger fails and T stock drops again, maybe the Board will force RS to retire. That being said, I read that there is a 75% chance the merger will be approved. Everyone needs to save $ and get educated----the layoffs will roll on!!

Randy is an empty suit with a very large paycheck.

He is destroying the long term business viability of the company.

Randy keeps searching for an identity for ATT but has been striking out on every at bat.

AT&T is a sloth. Except when they fall. It is then that they are a speeding bullet heading straight down!

i'm beginning to wonder how solvent the pension funds really are here

You are an expense item located on a spreadsheet somewhere. And all I’ve heard since January is we need to cut the expense budget. Buying up other companies and other boondoggles is expensive.

The sad fact is, the guy that has to perform is Randy. And that performance comes in the form of raising dividends, because, as interest rates rise, if the dividend doesn't do likewise, the stock price falls, and then the shareholders don't like Randy anymore. So Randy has to reduce cost, and your middle name is "cost".

AT&T has nearly 250,000 people. That's a lot of people.

It is siimple,the reason AT&T can't perform is that we are not a technology company, just an impostor conglomerate trying to buy time through acquisitions