Thread regarding AT&T layoffs

I love these posters and say GTFO I think that’s either coming from HR management or people that have never worked for the T….just want to troll these sites! Go away Troll boy get out if you momas basement and get a job!….lol

Interesting. https://www.thelayoff.com/post/@1nrv+1eDiGHvq

That’s a lot of abuse directed at someone you don’t know. Here are my facts. Retired in 2021 with $803K pension lump sum. If I waited until FRA, Fidelity’s modeler showed my future lump sum of $1.1M would drop to $940K. So I took the money and left. I can make up the difference in the market. Shush your barking. You’re salty cuz you don’t have a pension.

Most retirees would disagree, they feel like they have been hoodwinked with the multiple benefit cuts. The correct way to have handled this would be to grandfather the benefits to those that earned them. That's how they handled the pension plan, I worked with several employees that have no pension or post retirement healthcare to look forward to, that rots, but they knew it when signing on. Stankey and Santone are nothing more than thieves.

The truth is a hella thing. The number of angry, disgruntled and, yes, vile posts here slamming ‘the company and the leadership never ceases to amaze. And yet, there is an expectation (demand) that the company owes you ‘things’ because you’ve been a ‘loyal, dedicated, invested, contributing, honest’ employee’.
But the truth is you are none of those things…just bitter, resentful, entitled and undoubtedly frustratingly holding on with your dirty fingernails to the job and the only company who will ever pay you so well. Yeah, the truth is a hella thing.

I love these HR posts. The same HR will rebadge employees, cut benefits, lie, and punish offices for low NPS scores. All the while bootlick top management as they steal all the cream off the top of this company.
Hopefully this board is a pretext to a real organized movement.

Get off this board Stinkey

Is anyone really surprised with recent longterm medical and insurance benefit cuts? If so, where have you been during the last decade not to see this coming???

Completely false. When payday arrives, T still owes a weeks pay that has already been worked. T always owes the employees.

“ The idea that T owes you anything other than the remuneration for the work you’ve provided is a false assumption.”

This is just wrong. The pension for legacy T management had a table that explicitly used your age to determine your annual pension WHICH IS “remuneration”. Not my opinion, they list it in your YTR. It was 3% if you were young and climbed to 15% as you grow old. Why did it scale up if the promise wasn’t “stick around, employee, this will be worth a lot!” Yes 15 not 10% because at the top people who were L3 and above got additional credits!

The problem with this site is that it’s just trolls now. If you are bitter that you never were eligible for this and are glad that it was taken away from those who earned it, that says something.

Any and all benefits should have been grandfathered. The idea that Stankey and Santone think they have it within their power is wrong. If they won't to stop the benefits, use the same logic as when then eliminated the retirement benefit. New hires start fresh, with pay and PTO only.

It seems to me that AT&T dangled in front of their employees benefits in retirement if the employee pursued long term employment. It has the elements of "offer" and "acceptance".

The one percent is running this country, writing the laws, and picking the judges. And that is what is broken. AT&T is a symptom of what is broken.

They're busy pitting the rabble against the other rabble over nonsense while the one percent grab more money and power. It's time for the rabble to figure out that they're being played.

On a positive note, these benefits reductions are paying off! AT&T stock is headed to the stratosphere in 2022!

“ There is nothing written, stated or implied that the benefit packages companies offer when you initially hire on, will be in place a year, 10 years, or 30 years later.”

Again, AT&T generates $150B in revenue due to the hard work of its employees. It has $180B in debt due to the mismanagement of its business. In any other company this would have consequences. The notion that pensions are the same as any other benefit like a discount for a phone line misunderstands the issue. Pensions are part of your total reward. Cutting pensions after you have wrung all the life out of someone is immoral because they planned a lifetime of employment based on that promise. Consider if Social Security were cancelled tomorrow. Would you be fine with that? Or do you think yourself “entitled?” Your FICA for 35 years is my lower salary for 40. It’s what you and I gave up for a future benefit. The fact that you can’t see this tells me that you have contempt for the little people who actually work and stars in your eyes for centi-millionaires in the corner office. I exclude billionaires whose actually genius made them wealth. I include people who sit by the great river of money going by and stick their bucket in.

It is implied that the same benefits that I agreed to when I agree to work for the company will be there when I decide to quit or retire. That why we AGREE to employment in the first place. So yes it is implied they will be there we retire.

There is nothing written, stated or implied that the benefit packages companies offer when you initially hire on, will be in place a year, 10 years, or 30 years later. No one likes changes that result is something or anything perceived as a forfeiture of benefits. No one.
The idea that T owes you anything other than the remuneration for the work you’ve provided is a false assumption. And yes, we are all ‘temporary’ workers here. When your organization is no longer profitable or any number of changes occur within the business, globally or otherwise. you’re (we’re) expendable.
It is revealing that so many of you think you’re owed lifetime ‘things’ and spend so much energy dragging your feet and complaining. But that is apparently who you are.

where are the monitors on posts like these.

this is nothing but att hogwash. employees invest time and treasure in a company and expect some kind of loyalty.

I have been with two companies since I left att and they even appreciate me after I left and still stay in contact and I would go back to either one of them in a heartbeat. I get nothing from att crickets. I guess I wasn't nephew, cousin, sister, brother, child, or significant other at att to matter.

So now they are forcing people to retire because they dropping medical coverage until medicare. Why? Because of the incompetent duo of rand and stank but they make out like bandits and will have medical coverage for the rest of their lives and their family's lives. The decisions they made ruined a great company and yet they get to have a golden parachute and still stay in power.

So spare your grow up speech and I think it is time the dynamic duo grow up and take responsibility for the raping and pillaging they have done.

Oh I see ! If a corporation pledges a benefit for those who retire- Do not plan on that pledge. Or any pledge from any company since their priorities may change and you will be the first to pay Pal !

Do AT&T execs and the board take responsibility? No. The lie cheat and steal constantly. They set the example don’t they.

“ By making this choice, lifers essentially tried to beat the house in Vegas in terms of benefits. As is normally the case, the house wins in the end. Move on!“

The house in this case is the shareholders who have seen the stock plunge from the low 40s to the low 20s while the overall market rose. Read about “stakeholder theory” to understand why this is wrong. Execs are not owners

This attitude fundamentally misunderstands the issue of modifying benefits: if you promise pensions but offer lower salaries as a business decision then that is a long term commitment. If you change pension policy on the fly, you must consider “grandfathering” folks who are harmed. If you underfund the pension by $9billion while adding “wireless stock” in bad years and no contribution in good ones because of “growth”, you were never a good faith custodian of the pension plan. The decision to low ball salary for talent has implications over decades. And if poor performers hide in the woodwork, that is a management failure too. Craft and level 1 mgmt didn’t ask the C class to spend 69B on Directv or 85B on WM. But those were poor decisions. Raiding pension obligations to sc--w older employees while increasing salaries for young employees to be competitive is being done in the name of “fairness”. Pointing this out should not result in “Grow up” as a response. This site has gone downhill for useful information for layoffs

Why grow up? Like I said in a post that got deleted, CNN likes a young 'audience'.

The majority of those complaining continued to work for the company since it was an easy ride. Skill levels stagnatedfor decades and many got stuck with no options to move to other opportunities at the same pay rate. By making this choice, lifers essentially tried to beat the house in Vegas in terms of benefits. As is normally the case, the house wins in the end. Move on!

Some of what you say is true however we are more than contractors. Contractors understand that they don’t get benefits. Many of us continued to work for this company because of the benefits and expected that they would not change. Your GTFO attitude speaks volumes about you. The company wants more people like you and less loyalty so they can jerk you around. You are what is wrong with the country and the company. Poster child.