Thread regarding AT&T layoffs

@2wif, has to be one of the best posts I’ve read. Never heard FUD before, and most of us nearing, or at the edge of retirement are nodding heads.

I seriously sat down with Fidelity when the rumors were creeping out in 2015 of T’s layoff moves. There was no better way of knowing what FUD could look like if I didn’t understand my finances....so I planned for the unknown, still a little fear but reduced, and doubt is always present, but again reduced.

Will investigate the Medical from the monthly annuity, as i am going that route, sounds interesting. I believe the Annuity is the best route....side by side with two SS checks, makes budgeting easy.

Thanks again

I was forced into early retirement back in Oct 2018. The other day I was at the doctors office checking out and waiting to make my next appointment. The gal behind the counter commented that she has not seen me for several months. She remarked how rested and relaxed I looked and no more stress on my face. She wanted to know my secret, I told her that I was forced into early retirement from AT&T. I told her I no longer have to deal with the BS. I am here to tell you, there is life after AT&T, you will figure out your plan. Don't let the FUD (Fear, Uncertainty and Doubt) get the best of you. Start talking to Fidelity now. They can hook you up with a Financial Advisor (free) who will do an analysis report of your financial projection on a timeline based on 3 different economic scenarios. It gives you great insight. Also, when you start your pension, plan on deducting what you are paying now for medical from your monthly pension if you choose the annuity. Best wishes to all impacted.

Take the money as long as you can. Don’t retire at 50.

If the company wasn’t so cheap, and sweetened the pot to where we would get a decent offer to leave, us old timers would be gone in a flash! A year’s pay as severance sounds good as a SIPP offer.

I think if you are retirement eligible and all you’re doing is sitting around waiting on a package, then you might want to rethink that. My old boss was eligible during the last surplus. They volunteered to leave so that another younger manager wouldn’t get let go (wasn’t me, I’m not a manager). They had enough financially to retire. So, if you’re eligible, can financially do so, you might want to take the severance and save someone else.

C & E Union - In my group we have about 30 and I would say about 25 are eligible (we are spread out in S.W.) I am the youngest with 6 years and my work ethics blows them all out of the water (I am first generation millennial) . I think I am the only one that has graded above expectation during those end of year assessments or what ever you call them. I will sh-- my pants if the surplus me!

Like one poster said below, they could have easily provided incentive for retirement eligible folks to leave over the last few years. They are simply too greedy to provide a large enough incentive. Even though it would save the company money, improve moral and just improve the culture. Lawyers and accountants run this company and they would rather run it in the ground than turn loose of a dollar.

Will be terrible for those who sat around "needing just a few more years" in the long run. The company's talent is heading for the door, and AT&T won't hcae a knowledge base when this 45% retires in a few years.

If you want incentive to retire, look at the difference between your forecasted pension and the maximum paid by PBGC. You will be paid the PBGC rate when the company falls down the path of GE and Sears.

If you think the company is NOT headed for bankruptcy, name one successful merger of an internet infrastructure company and a content provider.

It’s better if company can put a mandatory retirement age like 65 years instead of forcing 50 year one who is retirement eligible.

Retirement eligible does not mean a 50 year old is financially able to retire.....If anyone models their pension it is pretty damn depressing and with two kids in college and one on the way a 401K is also ….50 is a prime target for age discrimination and forget about it if you started at AT&T out of graduate school and have built your career working for the company with limited other experiences.....time to put the cows out to pasture after you got all the milk one could get out of them....Corporate greed...

I was also on a town hall today where the 45% number was given. The person explaining It acted like it was a shocking number, for the wow factor, but all I could think of was that this didn’t happen overnight. This could have been easily managed over the last 3-5 years at a steady pace by offering incentives to leave for those retirement eligible folks, with little or no real disruption of the business. Just because an employee is retirement eligible doesn’t mean they should leave, especially if they are helping impact the company’s bottom line positively. Good luck to all affected, wishing everyone the best.

I think the more relevant stat is whats the % over 60.

i work in it (tech dev) and for the past 15 years the number of 20 something people i dealt with were few and far between, because we just didn't hire off the street enough and recycled favorites of management.

In my AD level group of ~18 there are at least 5 RIP people - Retired in Place, who for the life of me can't fathom how we lay off quality people when these 5 do the work of 1.5 people and get away with it.

rule of 75, 25 years with T and 50 years old.

are you really ready to retire? at 50?

Your savings rate would have to be immense.

or rich wife?

You can be retirement "eligible" at age 50 with 25 years with the company. No where NEAR retirement age. I want to see the breakdown of social security and medicare eligible employees. That is a VERY different stat.

I believe ole Randy boy is “retirement eligible.”

Why should I retire? I like to sit around and do minimal work. I put in my time and will go when I am ready. Maybe you should resign and start a career elsewhere.

What call and 45% of what group of people are eligible?