Overspent their budget and then layoffs to recoupe funds. Reductions start in December 2018 and will continue through the first quarter of 2019!
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Finance under Arison did an MVO and got more volunteers than expected but still plan to do involuntary in January 2019
When I started working with a financial planner several years ago the first thing they did was get me completely out of AT&T stock.
I second the comment about being a employee and having your money in T stock in your 401K. Be very careful with that.
I was at Lucent when that c*ap fest happened. (I am old) So many of my foolish coworkers had their ENTIRE 401Ks invested in Lucent stock! Lost 90% of their savings! So sad!!!!!
As far as the ATT STOCK BUY BACK PROGRAM.
How exactly does that work, ATT BORROW’s more money, pays interest on that money to buy back their stock that keep going lower.
And if their buying ATT stock back, why is the total number of ATT OUTSTANDING SHARE go from 6 billion shares to 7.2 billion shares.
If ATT is buying back their shares, the number of outstanding shares should go down.
And paying a 2 dollar dividend on 7.2 billion shares is 14.4 billion plus the interest they are paying on their 250 billion in debt. And whatever they borrow to buy back them ever decreasing ATT SHARES
Excluding the TW part of the company, the problem is not overspending. The cost structure is almost at budget. The problem is the top line. The years of under investing in organic growth in favor of new acquisitions has started to catch up. In 2019 the pressure will be put on the TW properties to improve the top line number and generate the cash flow to deleverage the balance sheet.
If you are an employee and own stock or have it in your 401k, you didn't learn the lesson of Enron, you don't put your income and retirement in the same basket.
FYI: ATT STOCK price started the year (01/01/2018) at $38.88. It’s Nov 16 and the ATT Stock price is about $30.00. So that’s a 22.8% loss. I remember Jhonny S said “if you can’t measure it,
You can’t fix it”.
I can measure the ATT stock price over the part year. If Candy and team are NOT in the reduction plan, they should at least take a 23% cut in pay and bonus and stock options and plain rides, etc.
Or at least be on a “6 month poor performance plan”!!!!
I bet the stock buy-backs are at an all time high right now.
AT&T stock price- The dirt Randy must have on the BOD must be really really good...
Looks like a failing deleveraging plan, they could not do it in good times. How in the world would they do it during the recession. They say next 5 years?, it is coming...
When is Candy Boy and Jhonny boy in the reduction plan. Ed W left on June 03, 2007 and the ATT STOCK price was $40.90. The DOW SP500 and NASDAQ have all doubled in the last 11 plus years.
When does the best leadership on the planet take a look in the mirror and say to themselfs. Maybe I don’t have any innovative ideas. How many more years do we need and what will the ATT STOCK price be in the next year ?????
Based on the Interest rate extension, the reductions of some groups will be after April 1 2019.