Will Stankey wait until 01/2022 to start layoffs or will he act before the end of year? We know he wants to get to 100K employees sooner rather than later. Not sure how this will play out.
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I say January 2022. Doing anything at T is like turning an aircraft carrier. T leadership doesn't know the meaning of fast. Is Santone still comping layoff bennies with other companies to minimize costs?
I agree with the comments from @1fpp. With the medical Benefits being taken away from RO75 employees after 2021, I believe their will not be layoffs until after Jan. 2022. Unless for some reason not enough RO75 people retire.
I'm counting on them getting rid of the anti-vaxers and that will make my job safer in multiple ways.
Verizon has a rif every November the week before thanksgiving and off the books by end of dec. this year the lay offs were last week and off the books by end of dec.
The massive hiring spree is going on due to the MR75 employees leaving with all of the system experience. It takes approx. 3 new hires to replace them due to their inexperience and ineptitude to comprehend how to show up to work on time, let alone the understanding how anything even works. The salary output is the same and the new hires glee fully accept it along with the new senseless benefits.
I don't see any layoffs this year as it force medical benefit retention for those employees that aren't leaving (that are Ro75). Makes much more sense to wait till 2022 to layoff those remaining Ro75 folks in 2022 since they will have lost their medical insurance subsidy (till medicare kicks in). So the less rocking of the boat till 1/1/2022 the better for the corporation. Medical insurance subsidy is a HUGE financial hit on the books for those employees with Ro75 and furthest from being 65/medicare. In fact that why I believe there is some ulterior motive for the TSR bumps an other pay/bonus increases - keep people from jumping till 2022 so they can lay them off. I retired earlier this year to avoid the benefit hit. Best wishes to those remaining.
Next occupational layoff window will be Dec 15, with a separation date later on in 2022. Just because a window has been established doesn't mean that there will actually be layoffs.
Share price at $25.02, just keeps dropping.
Most of ATT real estate holdings are on the sales block with the purpose of leasing back long term. This will generate some ability to reduce debt, but not with a significant dent. Head count reduction is the primary tactic to accomplish this goal. This year is pretty much over, but fasten your safety belts, next year is going to be a wild ride!
I know for a fact that my org is hiring the 5% of the MR75 people they are loosing/lost due to the Stink's take aways.
However, this disdain for US employees by the Stink and Blondie HR Ratbert, will require the Stink to wack people in 2022 to feed his megalomania and as a parting shot before the TW spinoff where perhaps he will be replaced?
I am sure the Stink is fighting to retain his CEO role as he has not R A P E D this company of enough $ yet. I bet they are looking at Poppin' Fresh if by some lucky streak the @sswipe Stink is gone.
Best be careful what we you wish for, as no doubt the BoD is looking for someone worse than the Stink.
With the upcoming retirements and Stankey s diversion tactic focusing on race relations at T, I don't see layoffs until 2022. Stankey and Santone do not cotton to anything Verizon does.
John Stephens clearly stated T headcount should be at 100K. I realize Stephens is gone, but he made this clear while he held the position of CFO. So what has changed, not much, except revenue is going down every quarter.
Hearing First Quarter in Business Sales. Will be deep.....
Where does Shed 100k come from? Some of you make up stuff just to stir up this place.
I think we are safe until 2032. I don't understand the hiring blitz.
First we don't know how many people are retiring by end of this year. It is somewhere between 5% and 10%. After that, you have to look at stock price. I double guarantee Stankey and the board are under pressure to raise stock price at which they are failing.
So, cost reduction is a lever they have to pull. Eliminate pension plan. Eliminate medical subsidy for those who are retired post 2022. Sell more assets (AT&T Mexico, remaining retail stores, Digital Life).
Technically they can also get rid of another 10% before or after Time Warner merger. That would bring total employee population to somewhere near less than 200,000.
If all of that does not work, completely outsource what remains of ATS and fire Jeremy Legg. The fact Jeremy Legg talks about making revenue for ATS, shows how tough the budgets must be. ATS is always an expense not a revenue generator.
While many companies surprise their employees with a Christmas bonus, or the jelly of the month club. Our always benevolent company cannot resist spreading the holiday cheer. If there will be a surplus I expect the news to come in the middle of next month as always.
214k … does that figure include Contract Employees?
T has a diverse business set and requires more employees. How many employees will leave with the WM spin-off to Discovery?
214k employees
Not this year. The charge would be too much of a drag on earnings.
I dunno, T has 230K employees and Verizon has 130K employees. Tmobile has 80K employees. Why on earth is Santone hiring more employees at T?