Thread regarding AT&T layoffs

7/14/20: Verizon hasn't laid off any of its 135,000 employees during the pandemic. Instead, the company has retrained around 20,000 workers for new careers. https://www.cnn.com/2020/07/14/business/verizon-jobs-ceo-hans-vestberg/

Only the smart leaders understand how to create a win-win solution (an enhanced offer) in the difficult time. Following is the related comment posted by @azy+15OhpQjz on 7/06/20 in response to the topic
“What would you consider a fair severance package?” at https://www.thelayoff.com/t/15OhpQjz.

===== by @azy+15OhpQjz on 7/06/20:

The current management severance capping it at 6 months was last revised in 2015 (the date is right on the plan doc). I believe it capped at a year prior to that, and may have previously been more than that as someone stated below.

If they were really interested in getting folks like me (25 years, management, in my 50's) to volunteer to go, they would make an enhanced offer. Clearly, they are not going to do that. So I'll continue to do the dance with them. I don't mind my job, and I have grown numb to the never ending layoff cycle. It doesn't bother me anymore. I don't want to leave the severance on the table, I've got kids in college. Might be different for someone in a different situation, or for someone that is completely miserable in their position.

=====

If you're waiting for an MVO, why wouldn't you just go find another job on your own? Is a few months of severance pay the one thing that is keeping you here?

Yup, one has to have a plan B. ( I am the one running the side business). FYI its not in competition to T and its not directly in the technology area finally I dont use T's resources to run it, the tax code can be your friend when it comes to deducting expenses for business. My side business leverages technology hence my ability to do it from home. thats what evenings, lunch time and weekends are for. the phone and computer are powerful tools to use in the 21st century. All the best to you all but i urge you to find something else to put on your plate do you are not 100 percent dependent on T. Sure i wish T would make better decisions to they would not depend so much on layoffs. eventually they will actually have to offer things people want to buy. This past weekend I had a very interesting discussion with my 25 year old daughter. She said she loves Disney plus. she and her 24 year old brother and a family friend also in her 20's all share Hulu. Netflix and Disney +. I asked her why and she lists several shows they all love. I asked her if she would be interested in HBP MZx. she said there is one HBP show she likes so its highly unlikely she will sign up for it. IMHO HBO Max will be a failure unless ATT changes the definition of success. Giving it away to your existing customers is NOT success as it brings no additional revenue. Its too expensive and i think ATT overestimates how popular their offering is. I hope for people dependent on ATT that I am wrong. I fear or arrogant new CEO is way over his head and like many arrogant people is destined to fail as they tend to surroudn themselves with yes people who will not push back. Stinkey is NOT Steve Jobs. Jobs got away with his arrogance and lousy attitude because he had brilliant engineers and he pushed them.

MVO (Voluntary Offer) can be the only solution to avoid or minimize the mass layoff when Force Reduction is necessary for the whole telecom industry. July/2020 will be the Stephenson/Stankey legacy year in AT&T’s 135 years history to maximize instead of minimize layoff in this historical COVID-19 Year. When Edward Whitacre retired in June/2007, AT&T announced in April/2007 a one-time increase to certain retiree pension annuity payments, an average increase of 3.2% by a group of retirees (per AT&T 2007 Annual Report - https://www.att.com/Investor/ATT_Annual/downloads/07_ATTar_FullFinalAR.pdf). AT&T leaders are less creative than the Verizon’s leaders. When VZ started FIOS in Sept/2005 with FTTH/Fiber, AT&T started U-Verse IPTV with twisted pair in June/2006, and didn’t really start FTTH build out until being forced by FCC for its DirecTV merge condition in 2015. However, AT&T did follow VZ’s Oct/2018 outsource to Infosys with its Sept/2019 outsource to Tech Mahindra. Wonder if AT&T will have a 4th Qtr MVO (max 52wk? instead of the cur max 26wk with 2wk/NCS which is still cheaper than VZ’s 3wk/NCS, and can also retain more middle age people comparatively) to catch up with VZ’s Sept/2018 voluntary offer which is 3wk pay for each NCS up to 60wk, with a successful take rate 23.6% (10.4K out of 44K employees), https://www.verizon.com/about/news/verizon-announces-results-voluntary-separation-offer. Not sure if John Stankey and Bill Morrow will be smart enough with some minimal AT&T pride.

AT&T employees will never forget 2011 is also the Stephenson/Stankey famous legacy year in AT&T 135 years history. Remember, 2011 is the USA telecom landscape turning point year when Stephenson/Stankey failed the T-Mobile merge with AT&T paying the $4B fine (imagine how much extra price promotion can be offered by T-Mobile with this kind of windfall money). Failed merger is not uncommon and is forgivable, however the scale of $4B fine is unbelievable and will be a historical record.

You may want to compare the stock prices among T-Mobile, VZ and AT&T since 12/19/2011 (the day AT&T’s Stephenson/Stankey decided to pay the Fine; TMUS=$15.90, VZ=$38.63, T=$28.74 on 12/19/2011; TMUS=$106.01=+567%, VZ=$54.79=+42%, T=$30.08=+5% on 07/02/2020 with percentage change since 12/19/2011). If you were the ex-employees took AT&T Oct/2013 LSO (Lump Sum Offer) or AT&T 12/2014 EPO (Enhanced Pension Offer), have invested most of your lump sum pension in the conservative telecom stocks such as TMUS and VZ in 2014/2015, most likely you might have been financial independent already today.

OP needs an accounting degree with focus on corporate accounting. And a law degree on Tax accounting.

I would not be surprised if T files for a bankruptcy protection in a near future. That is where things are going. Massive layoffs, business is shrinking, only profitable part of the company is wireless. Warner Media is drowning.

I would not be surprised if T files for a bankruptcy protection in a near future. That is where things are going. Massive layoffs, business is shrinking, only profitable part of the company is wireless. Warner Media is drowning.

wow run a side business and work at att. good for you.

You people are fools. I run a small side business. I have had losses for several years now. Corporation has the same deductions that all business have access to. Get over it. SMHIA.

Ratty is the King of cooking the books $hit, and taught Stinky how to cook the books. Ratty must have learned from WorldCon's Bernie Ebers.

“Government has issued a letter with mandatory, telling questions for JS to answer by July 17th”

Big deal. Not soon enough to save anyone, and everyone focusing on 3400 union jobs.. the REAL carnage will be in the 25-35,000 range, including non union individuals.

People acting like they care, looking into things, but it like looking into fire insurance for your house, after your house burns down.

Government has issued a letter with mandatory, telling questions for JS to answer by July 17th: https://www.brown.senate.gov/newsroom/press/release/brown-demand-answers-on-atandt-layoffs

But but att is profitable cook the books