They kept saying this is going to be a targeted surplus, but then at the same time said it's going to be across the whole company. Basically it's targeted the whole company. Then what the phuck about "targeted" ? just drop that word "targeted".
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The 14 days is because of Bill Morrow. He has instructed AT&T to cut fast and not look back.
Targeted means some groups will see very few if any layoffs, and other groups will be devastated.
The hammer won't hit evenly
Revenue is in decline, their service is less popular all the time, and they're doing nothing to invest in things that would entice subscribers like rolling out more fiber. That means revenue is going to keep declining, so the best way to boost profit is to cut expenses even faster.
You know, until doing so destroys the entire business. But the C-Levels get golden parachutes when that happens and thus don't care about it.
That's what passes for corporate leadership these days. Enjoy the decline, it's all downhill from here.
"2 weeks to land a new job within".
Jeff has said at least twice in calls that there will be no jobs available for those that get surplus letters.
likely scenario that feels like a layoff but gives corporate cover: will not do straight layoff. It will re-org, and cut groups/projects. most are given 2 weeks to land a new job within, I bet 4500 will find nothing and will be forced to leave. So no layoff, let's call it "reorg-off" and T can even save layoff package
reality is that they are clueless who's ther're cutting.
Thats, AT&T BEST WORK ...LAYING OFF PEOPLE