The most recent surplus announcement in ATO did not offer or allow managers to volunteer to leave the company with severance package. Many in my group, self included, tried to volunteer anyway. Is there anyone knowledgeable if there will be future VMO?
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@2rlx go troll somewhere else. there are no current plans to reduce the severence package and absolutely no plans to reduce it to one month of pay.
Heard the Management Severance Package was being reduced for certain. Highest payout will be capped at 3 months very soon, then eventually to 1 month, to align with “industry standards”. Go out on your own terms if you can!
The last lay-off wasn’t about who wanted to go. It was triggered by 4q earnings and the loss of DTV subscribers, both linear and streaming. ATO SVP said they wanted to sell assets to make up for a 3B shortfall to achieve 2.5 ABITDA by 2020. The people selected were outside of collaboration zones. We were advised they were able to reduce corporate locations by 30% in the last lay-off. That’s what it was about. Reducing locations and the people in those locations to pay off debt.
You want to know if layoffs are coming?
Listen to earnings. If we miss earnings and can’t pay down our debt to hit the magic 2.5 by 2020 it will trigger a surplus.
All this information was released in town halls.
They don't need to pay people to leave. There will never be more than standard 6 months separation pay offered to management employees -they are likely looking at cutting that back as well. This is all about cutting costs.....but this is reality folks.
Retirement eligible Folks want to be paid to leave now so even an MVo might have more takers. Plus with the involuntary surplus with rest of people leaving by the end of this month, the workload is going to be heavier for those left. Maybe in 2020 there will be a true buyout offer - the company wants to cut headcount and people want to leave now. Wishful thinking...but I hope there is a buyout or voluntary offer
I would think that after this round of separations if they do a blanket again we might see more takers. The work load and job pressure might make some consider leaving if they are close enough to making it work. Know a few who transferred to other departments or organizations such as wireless. Pretty cut and dried. You make deadlines and are held accountable. Discussions on job performance are frequent and documented so there is a audit trail. Kind of like the Prem Tech position in non management. Lots of meetings and documentation. Not meeting the mark by a certain time you are gone. If a Mgr is not following the script in performing the meetings and documentation they are gone.
"MVO would leave just a few left to take AVP orders of destruction.
It would certainly lower the numbers needed for profit. I know many that would,take,on offer, no thought needed" I don't think this is true. People seem to forget that ATO had an MVO as recently as last year. And the numbers that took it were exceedingly low. That's because it is not a great offer. The only people it makes sense for are folks at retirement age that were going to retire anyway, because hey why not "volunteer" and take the standard severance they're offering, as opposed to just retiring anyway with no severance. No brainer in that case. But most folks in the target demographic are around 50 years old and too young to retire. Why would I take that "offer" if I can't step right into another job at the same pay? That would be silly. That causes folks to stick around unless or until they are laid off. If they were serious about folks leaving "voluntarily", they would make a serious offer that would require more serious consideration in that demographic; an enhanced severance similar to the recent Verizon offer, or an enhanced pension offer similar to what they have done in the past.
"Not true I know some folks in the 50's who they wouldn't let voluntarily leave. They found better jobs and left anyway. lol Depending what city you live in and what your skills are the IT market is pretty hot."
Yeah some people are sick of the environment and want to finish their careers the way they want to finish them and not be told when to finish them. Att is pretty arrogant and thinks they are the bees knees as far as tech companies but it is sort like telling George W Bush there is something wrong with the economy. You can't tell someone there is a problem when they won't even listen or acknowledge the problem.
"Voluntary offer at this point guarantees that the company's future Star performers will be gone. These are the mid-career folks right now. The talent pool that the company needs 10 years from now. With an involuntary surplus, the company can avoid having a wokforce of hopeful millenials and near-retirement future pensioners."
Not true I know some folks in the 50's who they wouldn't let voluntarily leave. They found better jobs and left anyway. lol Depending what city you live in and what your skills are the IT market is pretty hot.
I don't think there will be more voluntary lay offs. They need to smoke out the old, pension eligible, higher paid people. That is their target....and yes I was one of them
Voluntary offer at this point guarantees that the company's future Star performers will be gone. These are the mid-career folks right now. The talent pool that the company needs 10 years from now. With an involuntary surplus, the company can avoid having a wokforce of hopeful millenials and near-retirement future pensioners.
yeah i don't see why they don't let people volunteer. if they want to leave let them and give them the surplus. just stupid.
You can volunteer anytime you wish to. Go ahead and just do it. Just won’t be receiving any severance or unemployment.
MVO would leave just a few left to take AVP orders of destruction.
It would certainly lower the numbers needed for profit. I know many that would,take,on offer, no thought needed
We saw people who were top performers and wanted to stay get the axe in last surplus. And people who were willing to leave now and save someone else’s job not be allowed to volunteer. What purpose did that serve except to nosedive morale. I hope the leadership allows VMO next time.