The rumor mill is churning once again....
The unconfirmed RIF number is 10,000+ late January/February.
Likely to be announced in earnings call as a major expense reduction plan / strategic realignment.
Y'all know the drill. More BS from the top down.
Time to update the resume and fill up the emergency fund.
If yall have information to refute or confirm please share.
Remember that count of 10K could be a combination of bargained/union jobs, contractors, management and/or other definitions. That 10K may or may not be counting only full time management employees. (No not talking about people who supervise others! If you work at AT&T you better get to know the verbiage people!) And who knows what time frame that could have been counted from. 1 year? more? less? The point is that it's people paying the price for greed and bad decision making that is leading us to terrible morale year over year and it just keeps getting worse.
Unfortunately it is not the fat that will be trimmed.....Yes there will be telecommuters impacted and non-collaboration zones impacted and then they will hit the rest of us...….If not connected as family or friends which is the vast majority of the on-paper "high performers" then you too will be a target...buckle up...
It started today. Hundreds of people under Donovan notified. What a joke that there has been 5 reorganizations the last 3 years. Upper management has no clue what they are doing and should be the first to go. Moral is low, employees working tons of hours and all they keep doing is trimming fat to make more money. All the while, making those who make it pick up more slack. What a great place to work!
The key is not to cut evenly simply to reach a number of employees. We need to exit businesses with the lowest return on investment and spend the money not spent to pay debt on higher ROI efforts. Do what matters well, with the resources needed to do it, and exit the lowest ROI activity.
As the orgs continue to shrink the AVP will know the few remaining people very well. Then it will be time to flatten the org chart again.
Seriously in a company that prides itself on mechanizing processes why are there still so many admin and chief of staff positions?
3tan - I have heard the same as you. No idea why they are targeting telecommuters and non collaboration people, not all positions require collaboration. Honestly, does an AVP know what each individual worker in his organization does & how they perform their work on a daily basis?
CDO (Chief Data Office) in ATO group was forewarned by AVP to expect management layoff announcements in mid January- 5-6% of employees. Anyone not in/near collaboration location is a target. Anyone not willing to be full time in the office (no telecommute) is a target. Any group not actively engaged in practicing Agile methodology is a target. Not sure how many total employees are in CDO, so not sure what the final number will be.
Oh yes management will.
Who do you consider ‘nanagement’
Unfortunatelly management won't be impacted.
This is a good time to trim the fat management.
Agree with earlier poster- putting in more than 40 hours a week is not going to save you. I’ve been doing the 60-80 hour thing far too log on ATO. I no longer give a damn. They are eroding away at everything. No telework. That did so much to destroy morale! They will minimum effort from me until the bitter end.
That number of 10k is entirely possible, in 2002 SBC, now AT&T gave notice to 20,000 employees stateside while the CEO, Ed Whitaker took home over $182 million. Their last day on payroll was Dec 28, 2002
What does ho on hold for 9 months mean? Referring to spending?
1ykr you are mistaken if you think anyone in this company is valued. Skills, putting in long hours, "collaboration", none of it means a thing to management.
Good. I have automation skills and knowledge that are in short supply so the more layoffs the more I am valued. Working out nicely as I enter my final year before retiring. Hope they offer a good package 4Q 2019
10k --theres no way,.......think more around $50-100k. this place is a ghost town, there are no 2019 budgets that are jumping off the charts. for the last 3 years, ATO has been busy planning for the first 3 months of a new year, watching spends closely....then go on hold for the next 9 months. thats not going to happen in 2019. this place is the titanic. literally.
Anyone who thinks putting in60-70 hours per week or anything v over 40 will ‘save’ them is a fool. AT&T has repeatedly put everyone on notice that there will be massive headcount reduction. It a matter of when not if. And I doubt the ‘packages’ will get better than current.
Our stock is into the $28 range.
2018 Q4 results will be announced Jan 30. I have a strong belief that announcement is going to be a bloodbath.
When stocks decline the only method this company uses to recover is cost cutting. We’ve seen incentives and budgets slashed.
There is no doubt employees are about to be cut like we’ve never seen. The remaining work will fall on the survivors. They will continue to give more time to cover it since they live in fear that if they don’t sacrifice 60-70 hours per week, they will be next on the RIF firing lines.
It’s a cycle and it won’t end until the company gets leadership that sees employees as assets, not expenses.
This board is about 90% BS when it comes to events. This rumor about 10k surplus in January is 100% BS. Sure there will be cuts, but if you look at ATT earnings for about 4 years they consistently have net annual reduction of 4K. No reason to believe it will increase significantly in 2019. Of course what I say could be BS too. Time will tell.
If that number is anywhere close to reality they must have a plan to cover the work. Otherwise I call bs. 10k is a lot!
Entertainment and DTV taking the brunt of it this time but yes more to come
Verizon rules, let's Face It, DirecTV business is declining due to a steady exodus of cord-cutters, AT&T made a major move downstream by acquiring TimeWarner mess to fund the deal, AT&T had to substantially increase its debt load, while Verizon’s reached its lowest level in several years last quarter, at 2.4 times debt to earnings before interest, taxes, depreciation, and amortization, or Ebitda. AT&T’s post-merger leverage is clise to zero? Close to 4 times debt-to-Ebitda. Add to that the frictions inherent with incorporating a new businesses, and investors chose to stay away.RIP
Hearing the dates are dependent on what org you are in. But the decisions were made in December. The 2nd and 3rd week of January is when people will be notified.
that is good time to trim the fat.