breaking news....AT&T to layoff 15% of North American workforce.
Actual numbers will be close to Verizon numbers recently announced.
The writing is on the wall folks. Sales are way down, costs are way up and stock price is in the toilet.
If you are not a high performing CONTRIBUTING employee you will be on the chopping block.
BOD has mandated cost saving to get stock price above $40. Do the math.
The day of reckoning is upon us.
In our area they are loaning I&R over to line and splicing so that I&R can work themselves out of a job that much quicker by getting fiber to the prem done.
Don’t worry, the cable plant is in poor condition due to management decisions and residential internet/voip combined with business internet/bvoip orders are still being created. It will take time to cut customers to fiber so the daily work still needs to be done. Management looks bad if due dates are missed. Keep going to work and collect your paycheck.
This is correct albeit the % is not consistent throughout business units. Please get ready.
It's called Business as Usual - at least in the Telecom industry. I have personally been through 6 RIFs and 2 Mergers in my career in this business so nothing I see here is unique in any way. Keep a 6-month stash of emergency monies, avoid long term debt, keep your resume up to date and always be willing to go backwards for a few years in your career progression if it means a job.
I was surplussed a couple of months ago and I was told on my last day that there will be more of this very soon. I was #1 in jobs issued and in a high tech field and I was not safe. I was really happy to be surplussed since I am retired eligible but wanted to stay a couple more years. It seems when they came out with Vision 2020, in 2015, that they do intend to reduce their workforce of 33%. I wonder if one day soon they will reduce the severance to 3 months from the 6 months it is now.
The stock price is low and they do seem to announce layoffs whenever they release their quarterly earnings. The price will go up if enough are laid off since contractors make only about 1/2 what they pay AT&T employees.
With the rumored merger of IEFS (Internet and Entertainment Field Services) aka U-verse/DirecTV and TFS (Technical Field Services) Hicaps/Legacy Services/IEFS-related cable support this will more than cover this 15% number. 2019 is not going to be a good year for field technicians, managers, and their leadership teams. If I were in the field and not ready to retire, would be looking for something else right now.
BOD is board of directors. They are accountable for improving the stock price. If they fail, vote them out in January. Employees own enough shares to control the board. Just vote through the AT&T Shares Fund in their 401k.
Who is BOD? And how do you mandate an increase in stock price through mass layoffs?
Sorry Jesus isn’t going to help you.
AT&T is far superior to Verizon and has a near monopoly on telecom and entertainment now.
AT&T is going to mom the floor with Verizon, T-mobile, Sprint, Charter, Spectrum and DISH.
AT&T is the undeniable leader. Period.
Link to "news" source? Guessing you don't have one. Why would you post unfounded rumors as fact?
thanks for the heads up. I heard the same thing on a call this morning.
The wife and I are going to make sure our emergency fund is in place and probably go easy on Christmas this (except for the grandbabies).
It's really sad but our supposed "leaders" given in to greed and ego have doomed us all.
Hope y'all have a good day and just remember Jesus is still our Lord and Savior and will protect those who call on His name and declare Him to be Savior (John 3:16)