This is all about the pension plan

It's been my belief since the layoffs began that the company is targeting those who are grandfathered into the pension plan. The whole " Collaboration Zone " b---s--- is merely the smokescreen they're using to do so because the EEOC would crucify them otherwise.

Since it's very illegal to selectively remove folks based on age, they simply do so using the made up metric of where you work. Some of the younger workforce will get caught up in it for sure, but the company considers them collateral damage as the vast majority are the older crowd.

Seriously, does the approach the company is using to determine who leaves or stays make ANY sense to you ? ( Show of hands ) Completely disregarding how much benefit an employee brings to the company, how much work they get done, how much expertise and / or wisdom they have ?

What successful company in history has EVER randomly slashed and burned their workforce like this using only a metric of where you report to work ? ( Where, btw, is dictated by the company itself. It's not like we get to pick our reporting location. )

Or, do you think there might be more to it than what AT&T is letting on ?

It's only a theory, but AT&T has to keep quite a bit of money tied up into the pension plan by law. As they cull more and more people who are eligible for it, the amount of funding it requires starts to trend downwards. Once the last of their employees who are grandfathered into the plan is let go, they don't have to fund it at all.

Every single person I personally know who has been let go thus far were all pension plan participants. EVERY SINGLE ONE.

Several of the people who were let go barely had the dust settle from their position before the company hired CONTRACTORS to pick the work up where they left off. ( First hand knowledge of this because I now get to work with contractors. )

Personally, I hope the EEOC starts an investigation and absolutely destroys the leadership that came up with this plan.

It's about the only way we'll end up with a company worth saving :|

( I should have wrote this on my eNPR )

I hope @YTnshYZ-1rzv doesn't mind that I reposted this, but it really needed to be on top in its own thread.

Comment! It's anonymous!

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@3cfy - i have pension and i was fully vested after years... and this is after 2005. I just dont want to reveal my hire date in case someone is watching this from the 3vil management. ATO here.

"Do the new managers not have any pension at all or is it just less than previously?"

Corporations don't offer pensions anymore. It's now 401K plans for new workers. If you're terminated or quit, you can take all of your 401K dollars with you. Pensions are non-contributory for the most part and subject to your working a specified number of years. You accumulate a benefit as you work longer and longer. But If you don't work the minimum number of years to be vested and leave, for whatever reason, you lose all they set aside for you.

I guess they don't want you staying if you find a better job elsewhere.

@1jew - to add to your statement, no one now in ATL is allowed to telecommute, not even 2x a week or once. We were all told to report 5x a week and no easing it. I heard in some offices, people have no cubicles and just sit on empty table they see. People are annoyed as hell and no one can concentrate because everyone is there and making noises. Yep, collaborate some more.

There are hundreds of empty offices in NJ. And letters went put stating some people who have been laid off previously & haven’t started their pension can now withdraw the entire amount.

@zri "It is to reduce headcount and the number of buildings they occupy. It also protects them from lawsuits. They desperately need to cull down the number of old buildings they maintain." This is funny, because the hilarious thing now is the push of everyone back into the office in the Mair organization (ATO). I am not looking to debate telecommuting vs. full time office here, just pointing out the fact that @zr1 is correct in that, for the last 5 + years it has been inherently obvious to anyone paying attention that CRE has been tasked with reducing leased space everywhere. Office space has been exited, consolidated, and shrunk dramatically. And now, almost seemingly on a whim, the largest BU just sort of changes their mind, and decides everyone should be in an office, "engaging" and "collaborating" 5 days a week. So, you have a mad rush of folks back into the office at the behest of their management, except um oops....we don't have the space for everyone anymore. And of course the result of poor strategic vision and communication among T leadership results in chaos, and a completely disgruntled, frustrated, and less productive workforce. Great job. Executive bonuses all around.

@YUSiCW4-abs - as of a specific hiring date (I can’t remember what year, maybe 2003) no new hires regardless of management/non management received Pensions as part of their Benefits Package.

Do the new managers not have any pension at all or is it just less than previously?

EEOC serves not purpose, go back to work people, before they fired your ass

The eeoc will do nothing unless masses of people from here start making claims all at once to them

Great post.

Follow the money.

It is to reduce headcount and the number of buildings they occupy. It also protects them from lawsuits. They desperately need to cull down the number of old buildings they maintain. I don’t know how much pension obligations is weighted but would benefit them somewhat as well I’m sure.

You just now figured that out? Well you is a Sherlock then.

Thread regarding AT&T layoffs

This is all about the pension plan

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