Some people are saying that the motive for these layoffs and the ones that are coming is to realize fund to reduce the company debt. I certainly hope those people are wrong, because if this is true this is the ultimate proof that AT&T reached a new low and that the prospects aren’t looking good. If the layoffs were done to make the company more efficient I can understand the. I don't agree with them, much less with the manner in which they were performed, but I can understand the logic behind them. If they were done for debt reduction, then AT&T would have to lay off about ten times the workforce that it has to have any significant reduction of debt.
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Read about AT&Ts bad business decisions, https://www.wsj.com/articles/at-t-wants-to-be-big-in-entertainment-first-it-has-a-49-billion-problem-to-fix-11548777413
They can't grow revenue so expenses are being cut to prop up EPS. Previously, revenue was grown through acquisitions, but excessive debt won't allow that now.
OP, sorry we didn’t see you at the meeting. There was an email sent out and sign on the door that read “Layoffs/Debt Réduction, Please Attend.” Signed God
layoffs wont make a dent in the overall financial condition, their plan is about getting rid of the old and expensive wood, so if you provide not value, you will be eliminated.
This will likely get down voted but to the under 40 group, I would focus on living your life debt free. Drive your car till it dies, live in a smaller home, skip the designer temptation. As an over 60, none of flash matters in the long run. Living a simple life will allow you to skip the whole entire dog eating corporate life.
It was done for both reasons. Just remember: Everyone is replaceable.