Thread regarding AT&T layoffs

Crystal Ball of AT&T Layoffs

I found on a telecom recruiting blog an interesting 2 week old T Layoff article . Lots of facts and not much mud slinging .  Key Takeaways.  

  • For layoff news look to Elliott Mgmt(Singer) Singer told AT&T to jump and T said "how high"
  • When Paul Singer agitates, a lot of people lose their jobs. If he can get Argentina to pay him on debt I am sure T will pay as well  
  • For Singer to Fix Stephenson's poor management/ high debt missteps of T-mobile, DirectTV and TM deals he needs lots of layoffs  
  • Revenue per employee is 30% higher at Verizon than at AT&T(Layoffs). 
  •  AT&T has 2-3x "more" mgmt layers than Verizon(layoffs).
  • Sell non core assets- Stores need to close, Sell T owned Real Estate and lease back. Reach $15b in asset sales this year. WB Gaming for sale for $4B, DirectTV sold in 60-90 days
  • Increase in rebadging/outsourcing to Amdocs, Tech Mahindra, Accenture, IBM.

Bottom line estimated number is 40k layoffs with 15% across the board, 25% level 3+, 40% in the L5+     

by Anonymous
| 4495 views | | 18 replies (last June 17, 2020) | Reply
Post ID: @OP+15ui9hb5
Comment! It's anonymous!

18 replies (most recent on top)

We are hearing the same 40k numbers. Also the reorgs are spot on

by Anonymous
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Post ID: @1ktx+15ui9hb5

Verizon sold off old GTE areas they had acquired..Verizon STILL has all their original main northeast area landlines and then some..Verizon is just a better run company thays why they do better!

by Anonymous
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Post ID: @1pyb+15ui9hb5

That is true, I'm in CSO and we were told last week the cuts would be minimal.

by Anonymous
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Post ID: @1iay+15ui9hb5

just move to cso and you will be safe.

by Anonymous
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Post ID: @1cwl+15ui9hb5

So is Bill Murrow more of a diversion or validation to make it seem like it was T's research that arrived at this conclusions and numbers when it was actually following Elliot's requests.

And all for stock buy back to inflate the stock price.

by Anonymous
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Post ID: @wky+15ui9hb5

@bsr, you are correct, but...

ATT also brought on Bill Marrow (from Elliot Group) and put him on the payroll as a consultant. So they did "hire" Elliot's top lieutenant and put them on the payroll; even if only a contractor, ATT is paying him! He reports directly to Stankey (per webphone)

by Anonymous
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Post ID: @xie+15ui9hb5

@iag "Why do they need to hire Elliot Group"

ATT did NOT hire Elliott. Eliott bought a bunch of stock and as a large stockholder had the clout to tell Stankey and Stephenson what they needed to change at ATT if they wanted to keep their job.

by Anonymous
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Post ID: @bsr+15ui9hb5

I don't understand this. If Randall is worth 38 million a year, and Stankey is worth 18 million per year (according to their public info on compensation), Why do they need to hire Elliot Group to turn the company around? Nobody seems to be asking WHY are we paying these clowns an obscene amount of money in compensation, only so they can hire a hedge fund/consultant that's only here to make a quick buck and leave a hallowed out carcass of a company behind?

WTF? Isn't it the job of Randall and Stankey to make the company successful? Isn't this why they claim to deserve their compensation?

Just a bunch of cons and thieves !!

by Anonymous
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Post ID: @iag+15ui9hb5

Verizon sold off a large portion of its landline service a few years ago. It would be interesting to see revenue per employee in region versus out of region.

by Anonymous
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Post ID: @joy+15ui9hb5

@gmw: "McSelfish is as chipper as ever"

It's easy to be happy when you know you aren't threatened with random layoffs, that you're not accountable for your mistakes, or that you know for certain your bonus and stock awards will earn you over $5M each year.

by Anonymous
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Post ID: @ovt+15ui9hb5

Read the ATT Transcript from todays Bofa neeting . McSelfish is as chipper as ever. Go to the very bottom of the page of the site. Also these are the same 40k numbers I am hearing.
https://techstaffer.blog/2020/06/01/att-layoff-crystal-ball/

by Anonymous
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Post ID: @gmw+15ui9hb5

It’s all good everyone we still have Anne Chow to lead us to the promise land.

by Tom Bordeaux
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Post ID: @evg+15ui9hb5

I heard 40k as well from a trusted High level source

by Anonymous
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Post ID: @bhh+15ui9hb5

OMG I must have missed the call. The article quoted someone saying
“the peanut butter will not be spread evenly” when referencing layoffs. Is that true?

the video is posted out on insider I think. You can watch the replay.

by Anonymous
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Post ID: @swy+15ui9hb5

"15% across the board, 25% level 3+, 40% in the L5+ "

Too bad it wasn't 90% L3+ and 100% L5+

by Anonymous
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Post ID: @dxu+15ui9hb5

OMG I must have missed the call. The article quoted someone saying
“the peanut butter will not be spread evenly” when referencing layoffs. Is that true?

by Anonymous
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Post ID: @rfq+15ui9hb5

here is the site
https://techstaffer.blog/2020/06/01/att-layoff-crystal-ball/

by Anonymous
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Post ID: @gbb+15ui9hb5

What recruiting blog is the article?

by Anonymous
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Post ID: @oly+15ui9hb5

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