I am retire now and share my experience as an ex-AVP.
Typically layoff is cost driven. The process is done top down.
Each AVP will be given sometime a $ or a number .
Each AVP will ask his direct supports for projects that they can downsize and names.
Based on the importance of the project, the list will be decided. Unluckily, it has nothing to do with performance but more to do with impacts.
I am very thankful for ATT for the years.
However, I am so sick of the layoffs of the past 10 years and decide to layoff myself.
Given ATT needs to continue to cut cost, you all better to get your resume ready and keep your head looking around if you are young.