Stankey has a goal of reducing costs at T by 6B by end of 2021. He has supposedly cut 3B but still has 3B to go. Is he using all the expected retirees by the end of 2021 to meet this goal? I can't see any other way, unless he plans a massive layoff before end of the year.
17 replies (most recent on top)
Maybe all the upcoming retirees will be used to meet the objective. They gave away millions on retention bonus for exec's. Kind of seems like they keep moving the target.
Millions in retention bonuses is probably not the way to do it.
T owns some premium IP address blocks. Sell it to get a couple of billion.
Severance pay for retirees? Are you for real?
If the pension fund was invested in Apple at the beginning of the year there would be enough money to pay retiree benefits and offer a one year severance to retirees.
Who’s running the place??
no more toilet paper
When all else fails, make numbers by doing layoffs.
On the off chance you layoff too much, turn around contact for what they used to do from a foreign vendor.
Capitalize the cost and then blame the vendor when it doesn't work. That's accountability.
Then tell wall street about "incredible storytelling".
He and the Board could forfeit their bonus’. That should cover it.
He could have taken all the spare cash at the beginning of the year and put it in a Dow Mutual fund and he would have earned $6 billion by now!!
Winter is coming…
He could cut the 401k match, terminate the DB plan and sell it. Also he could sell off some spectrum. He could make a Hail Mary play by investing cash in Apple hoping to get a cash bump!
I HOPE I MAKE IT TO 2023 SURVIVOR ISLAND
so that we can become a more automated company
Yep. Because everything they try to automate works so well, that's obviously the way forward.
Any employee who thinks the company won’t be getting rid of 10’s of thousands of employees is kidding themselves.
Call centers will be driven to better online experiences. Outside techs will be minimally needed because if fiber and outsourced techs. Business Sales will be minimized because if better online resources. Will they get rid of everyone, of course not. But they will get rid of 10’s of thousands. All of this investment in removing legacy systems and infrastructure is so that we can become a more automated company.
The transition will unfortunately be a blood bath over the next few years.
Hiring in Mexico. It's not outsourcing...
3B $'s , if you guess at and average salary and benefits of 100K per employee, that means it would take 30,000 employees to be let go to equal 3 billion in payroll expenses.
I think we could let go of the last 30,000 hired and never miss them......
His "savings" will be the $3B he GAVE to DTV because he lost Sunday Season Ticket. That $3B would have funded the pension so he would not had to cut retiree benefits. But being the Stinkin' Megalomaniac S O B that the P R I C K is, Stink got off getting rid of US employees for free!