Thread regarding AT&T layoffs

1lor If LWD truly mattered we wouldn’t be where we are now.

@emw - no more LWD, how will we ever manage without it?

As a manager.....Grateful for what was a good career/team, great paycheck, pension, etc. while it lasted.Relieved with the fact i do not have to survive anymore elimination rounds, no more mandatory training that did not matter in the end, no more strike training, no more daily calls, no more dreading Sunday because tomorrow was Monday. I will let you know if I think of any more.

MTP HAS NOTHING TO DO WITH PENSION...BENEFITS ONLY. My guess is because you only have 19 years, you will never qualify for benefits based on when you were hired. Don't list to what some folks think is good advise, call BENEFITS.

It may be determined by organization, but my understanding is there are 2 options. One to look for other job opportunities, giving you 60 days to find the job or be off the books. The second option is to leave by the end of February (hence the January 28 notice).

For the person with 19 years 8 months. You will still qualify for retirement (being within 2 years of qualifying) providing you meet both rules. 1st rule I’d age plus time in service =75, 2nd rule service = 20 years (as stated above, you will be bridged due to being within 2 years).

I believe (but not sure) that you get more severance by leaving sooner than later.

If you get past this round great! But if you don’t, it may not make a difference due to the changes in the lump sum pension payout. Remember, the interest rate goes up April 1, dropping the payout. The amount you would have gained making 20 years may be less than you get by leaving before the rate change.

I will also say that anyone taking the retirement route and considering the annuity, think again.

1. You do not want to leave any money behind.

2. Pension annuities can be passed on to your spouse, but not your kids. Which means you or your spouse would have to live at least 20 years to break even, and when you’re gone, you’re kids or family still get nothing.

3. The company annuity pays out at about 5% (based on the 2018 rate), which any decent financial service should be able to equal, allowing you to never touch the principal, and available to your heirs.

4. If the government continues raising the interest rates, who knows when it will impact not only the lump sum payout, but also the monthly payouts.

5. You are leaving a company who has lost your trust, why would you leave money in untrustworthy hands?

In order to hit the 60 day WARN notice and have you off the books before end of March, Monday will likely be the day you are told you are gone or safe. Each department will handle as needed. Until you get a Rose (like on the bachelor) don't assume anything. And even if you are safe this time, get ready for the next round.

19 years, 8 months with T (SWBT=>SBC=>AT&T) Mgt. Its sad to see so many asking questions outside of company channels, this time around my leadership in TechDev has held no meetings nor provided any official emails (except for the mcelfresh email) I am relying on other T enployees in other departments\groups for rumors and info. 4 months and I become MR75 eligible, hope to make the 4 and will gladly depart with my lump sum. Retiree benefits for the most part are non-existent, better off getting services from normal sales channels

When I was laid off in Sept my group was on a call to be told we are effected. Then our 2nd went to each location and told the 3 of us that we have been selected. We were then told we could look for a job and have 60 days to go or not look for a job and be gone in 3 weeks (I believe it was 3 weeks). I decided to just go and be done with all of it since it is just going to get worse as time goes on. That is one thing my 2nd did tell me on my last day...that this is just going to get worse and the lays offs will get bigger. And now with AT&T in such debt I do believe the layoffs will accelerate even more.

And when I read this board I am still kind of shocked when people ask "Will it effect me", or "Is it just management". i think everyone on this board needs to come to accept the fact that all will be impacted at some point. You may not go but your group will be 'effected' and if you don't go the people next to you will.

In my past notifications there was a call scheduled with impacted employees, then a second call for non impacted employees (if any).

Typically a level 4 or higher will deliver the news and HR will be on the call as well for questions. Expect answers to be generic and canned responses.

7-14 days later, impacted employees will be told their fate. Likely from their direct supervisor. If you are selected to be surplused, you will have sometime to look for other positions within the company before you are removed from payroll. During this time you will be invited to recurring calls allowing you to ask questions and getting help during a difficult transition.

It’s a big dark scary tunnel you’re headed into, but I assure you there is a light at the end and this too shall pass. Best of luck to you all. Try to stay positive. It’s hard, but it helps.

In previous surpluses, people selected were first notified by your manager (in-person or call), then afterwards received a packet of surplus documents in e-mail to read and acknowledge.

Our AVP is having a series of calls on Monday. One for the people being affected and the others for those not being surplused.