I regret not taking the last MVO. Does anyone know if there are any mvos coming up soon?
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TO Post ID: @4nzb+19Z15GBA The SVP is Arison and a VP under her verbally announced it in a townhall that it will be coming in 2 months and wanted to be fair and give people time to think about it. Good luck in getting the same in your org
To post id: @4hsk+19Z15GBA Rosenbaum direct reports to Anne Chow - CEO of AT&T Business. his org is "Customer Service AND Operations" - which org are you referring to when you say "Corp Business Operations" - can you provide the name of the exec?
Also, has this MVO been communicated officially?
It wouldn't be a bad idea to do a round of surplus in the CS&O org. Chow's group is top heavy all over
TO - Post ID: @4jkp+19Z15GBA The MVO is not in business customer service but Corp Business Operations
"Business Operations"
CS&O - under Rosenbaum??????
Which VP announced an MVO in June?
Business Operations
@3ulq+19Z15GBA : What department? I am on the video side and hope to get one as well
Our VP announced we are having an MVO in June!!!
HR will announce that the current severance package will be reduced to 3 months starting in 2022. That will be "in keeping with our competitors" like IBM did some years ago. And we all know AT&T likes to follow what IBM does. This will be a kicker to convince the older workers and leave.
Thank you for valuable info link, very much appreciated!
On: People, interest rates are not going to move upward until at least 2023 per Jerome Powell.
They look at corporate bond rates. Here is a link to help track how rates are changing month to month: https://www.irs.gov/retirement-plans/minimum-present-value-segment-rates
Another one: https://www.pbgc.gov/prac/interest/vrp
Since Nov/Dec - 1st segment rates are holding, but 2nd and 3rd segments are rising. In my case the bump in lumpsum due to reduced rates as about 10% which is roughly 6 month breakeven.
People, interest rates are not going to move upward until at least 2023 per Jerome Powell. So, I don’t see any negative impact on your retirement until then or unless this whack job in the White House signs legislation to pass a windfall tax on your 401K or pension disbursements!
I do not see any MVO’s this year
Another reason to consider retiring in 2021 is the lump sum. The difference between 2020's lump sum and 2021 was substantial in my case. With interest rates rising it's likely to drop in 2022.
"Not many have the medical subsidy and it is not that great - out of pocket is still significant."
This is an excellent point that doesn't get made all that often. At the end of the day, T's medical coverage is expensive. And that cost (even subsidized) gets costlier as a retiree. The way they're dangling that carrot, you'd think it was 1992 and you're getting the zero premium and deductible HMO for life.
"I will have an opening late in the year and I've already been cleared for a backfill"
Is this an indication that there is no MVO?
They may not hit their target headcount goals. In a recent top leadership meeting (2-3 weeks ago) it was said that they have not yet reached desired levels of headcount.
Not many have the medical subsidy and it is not that great - out of pocket is still significant. A colleague called HR and found that with subsidy he may save $400 pm. He has 5 years to 65 age. Another 3-6 months of employment pays for that differential. So why should he leave voluntarily and even loose unemployment? The real old-timers are close enough or have crossed the medicare age so no incentive. Impact of reduction in benefits, downgrading pension formula, etc. - they all have less than 6 months break-even.
Somebody in HR/Finance is managing only by spreadsheet - it is a dollar and cents analysis. But employees too have spreadsheet and they are also doing dollar and cents analysis.
They may not get their numbers. BTW managers are actively polling their employees to collect data on how many plan to stay vs leave. They numbers probably are being fed to HR to help them tweak their approach.
May be no MVO, but cannot rule out involuntary.
"They will not offer any enhanced offers this year!"
Agreed. But when was the last time there was an "enhanced" offer for management anyway? It's been quite a few years. The last one was a pension "kicker" of 10%, and it was around 7-8 years ago already. The regular MVO is just volunteering to leave with the standard severance.
They will not offer any enhanced offers this year!
Agreed that you won't see one this year. They need to understand how many will leave before the end of the year in order to keep the pre 65 medical subsidy (that is their "offer" this year; they're "offering" to let you keep the subsidy you were promised). Those of you stating that "they'll never do an MVO again" are being short sighted. Why wouldn't they? Especially if they don't get the numbers that they hope to this year. You're acting as if the MVO is some sort of big enhanced offering. It's not. There is no "offer", there is no "package". They offer you the door and pay severance according to the standard severance plan. That's it.
Those days are gone... it’s just cuts now.
If we were going to have one then it would have happened in the first quarter. There is no financial incentive for the company to do one this year since so many folks will be leaving by EOY.
I will have an opening late in the year and I've already been cleared for a backfill
There are not any coming up soon. Remember they have to keep enough managers for contingency planning. They don't have enough left to cut and still negotiate well against CWA.
MVOs will not be offered anymore per a reliable source.
I’m hearing that it is unlikely that anything will be offered this year. The company is looking to see how many people are likely to leave EOY because of the benefit changes scheduled to take place 2022. Also, I know of several instances where they are hiring and backfilling for vacant positions.