Thread regarding AT&T layoffs

Jeremy is a breath of fresh air. IT needed him. He Is going to cleanup the mess that his predecessors in ATO/Techdev created.

What about the $50-$100k amount he mentioned for each of the 10 categories of application retirements? That amount to me is frankly astonishing. I'm assuming that would be split among team members of the group(s) that accomplishes the retirement - but that is not as simple as it may seem. I just don't understand how that would work based on his description.

" You either get the high deductible bronze or pay out the nose monthly for a higher level, and even then, you end up paying close to the same thing.

Is it that benefits are so bad everywhere else, they look good here?"

Agreed, as management the medical is expensive. I am fortunate to be able to be on my spouses plan. Similar offerings, lower premiums and deductibles.

they will not be laid off but moved to tech m instead

Jeremy is a savior. He is the best executive in AT&T.

What an environment. Been to two Fortune 500 companies since I left att and they were ran so much better and they supposedly have less cash than att. Att is a cesspool.

I don't understand how people say T has "good" benefits (unless you're in the union). You either get the high deductible bronze or pay out the nose monthly for a higher level, and even then, you end up paying close to the same thing.

Is it that benefits are so bad everywhere else, they look good here?

What org does legg have? I thought something related to IT but I thought most of that was outsourced . He sounds like a decent guy so probably won’t last long.

@thw, what do you mean bloated salaries? If anything AT&T doesn't pay market competitive for technical folks, which is what Jeremy Leg was referring to. Don't get me wrong, I am happy with what I make, close to 90k and IMO good benefits and a career path, but don't make it sound like us technical folks make more than market average (I am in Dallas area).

If you are concerned about your job, you will probably be cut. ATT is now Mobility and content. They could care less about anything else. If you don’t at least touch either service, it’s only a matter of time before you are off the books. Glad he mentioned salary reviews, as there are way too many bloated salaries out there. Need to hit those folks ASAP!

One slide had “evaluate target salary range” does that mean technical roles with future-needed skills will get a salary range increase?

outsourcing employees for a year to these companies to care for retirement of systems is a layoff and no and i mean no severance. they pulled this with amdocs and ibm. easy way to skirt the media

This is such a sunny day view of the situation. Jeremy is probably being honest , based on what he knows, but lets get real, listen to the earnings call this Thursday to get a sense of what's really going to happen. The Wall st. guys wont hold back and will ask the tough questions, and you can get a sense of where things are going..

The way the economy is going things will not be better in 2 months, he's MAKING A BIG ASSUMPTION that this FUNDING he keeps talking about when they pitch the board meeting will happen, it will likely be a LOT LESS than he thinks.. especially if the market and economic conditions continue to deteriorate.

We'll know by the end of Q3

Legg seems like he is taking the reigns and making lay-off decisions on needs of the business and not just a flash cut. It will happen over time and will be transparent. I assume more work will come back to AT&T from outsourced contracts and vendors will be consolidated. India resources are still cheaper than a US resource. Also easier to offboard a contractor instead of an employee

OP, You are correct about what he said about initial 30%-40% reductions that were on the table in June. He also said the situation is fluid and yes movement could happen sometime after the start of September. And yes, he said 25-50 employees will get surplussed In August. He almost made it sound insignificant, but it's not to those 25-50.