This company is $180B in debt, and wireline isn’t helping. What exactly did you expect from them? The union? There’s no fairy tale ending here. Think of how you would cut $180B in debt if you were a business owner. Let’s be realistic. At this point, take what you can get and move forward even if that means in a new field with a new company.
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CWA Bargaining @ ATT Midwest has 2,579 members think this thru before you vote YES. This union complained where did AT&T use the billions in tax money at. Well lets just say as of April 2018 when this contract expired that if voted in this raise would be 20 on average employee and this Union is only wanting to get the members back pay to FEB 2019 not APRIL 2018 so do the MATH 20 a week times 4 then times that by 2579 members that is 2,063200. And there may be more members involved this this number in the 4 midwest states. So why is the UNION OK with giving the company over 2 MILLION DOLLARS of the employee/members money. DID WE NOT WORK FROM APRIL TO FEB.?
The debt load is a major concern . Secondly , why they haven’t taken the financial decision making away from Mr. Stephenson is yet another mystery .
There are plenty of ways to make money with the assets they current have .. However , they choose not too. Fiber , copper plant under utilized. Towers standing there doing nothing . The problem is simple ... they trip over a dollar to pick up a penny . Then they spend billions on things that really don’t move the company forwArd. The company is a lumbering giant and internal communications are nonexistent . Each department plays by their own rules and nothing works as a whole .
As far as the union goes , step out of 1960 and change to a future mentality.
As far as management goes . Employees are assets and should be treated as such . The information that you need to grow your business just may come from that 30 year veteran or the new person who just started . People are smart and creative If given a chance .
I see no positive outcome of this current cash spending spree the high up are on .
AT&T is a communications company not a Hollywood production company . Finish the builds you started in communications first , get that job done and treat your customers well.
The debt isn't more than the average publicly traded company. Nothing to see here. Try doing some research.
the DEBT is not solved by making the customer suffer from getting rid of experience workers and hiring contractors who don't care. Most jobs that require a customer to call in for service talk to people who can't even understand you or you can't understand them. Debt is solved by cutting the higher ups who make way to much money, not the craft who don't.
As a SMART business owner, I wouldn't have put the company in jeopardy by taking on so much debt in the first place.
Then again, AT&T isn't run by very intelligent people.
For the last time -"Landlines -.i.e.-Copper or Fiber generates huge cash flows which more then adequately fund dividends, debts ..day to day expenses Randall has stated such this year when asked if they are leaving the "Landline Business " . Randall said absolutely no and that the "Landline Business" does generate huge cash flows. Now thanks to technology enhancements plus huge productivity improvements...ATT does not need the headcount it did 5 years ago. The Unions needs to enhance the Seperation Packages ...unless they are too lazy to put up thier fists. Remember "Fists Up!"
@1xbe They lump a lot of stuff in the "Entertainment Group".
That is the result of 15yrs of deregulation to become a Media company.
Last I heard, D3 is expecting a negotiating process to ensue once the contract expires. D4 will speak for themselves when the ratification vote concludes.
I don't think the debt is material. Lack of customers for landline telephony is material. It doesn't matter what business a company is in, if there are operations that don't deliver a profit, a company has to do what it has to do. If wireline telephony was profitable, they would keep it.
They lump a lot of stuff in the "Entertainment Group" on their 10-Qs. I'd like to see wireline telephony broken out to see if it contributes to earning. I don't think it does.
Looks like they are cutting every corner that they can, even if it’s a few bucks. Getting headcount down was a part of vision “2020”
You do realize that the company can lay every single craft employee and still not even put a dent in that debt. The debt is in the billions. Do the math. The company is restructuring its workforce not to pay off debt but to better compete.
Maybe the upper management could take some concessions. Yeah Right!
god bless you and god bless America, the place where even if you fall you can get a break and a second chance to get back on your feet. finally some common sense.