I don't believe there will be any major layoffs throughout the rest of 2022. The 2q results we very good with the exception of free cash flow. Pascal stated that free cash flow was down because customers, on average, are paying their bills 2 days late. One quick and easy remedy is to charge a high fee for late payments, problem solved. There could still be surgical layoffs targeting low performers, but nothing excessive.
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Our BU is set to give names next week. Notifications go out in Sept and off payroll Oct 6th.
Boo ha ha ha ha ha ha. Now that's funny.
" It’s two weeks and you’re off payroll."
Under the WARN Act, in some states they are required to give 60days if force reduction is due to business conditions. I guess they can give 60 days paycheck + benefits and still ask to vacate in 2 weeks.
The company has not been doing a 60 day notification, at least not for management, since the pandemic. It’s two weeks and you’re off payroll.
There will be something attempted at wireline.
https://www.lightreading.com/broadband/fttx/atandt-fiber-gains-accelerate-as-problems-at-wireline-biz-unit-mount/d/d-id/779156?
As such, AT&T is pressing ahead with a plan to "reposition the asset," AT&T CEO John Stankey said on Thursday's earnings call.
As customers of old technologies become fewer and fewer, that "asset" is going to have a problem breaking even.
Stankey and Pascal need to keep looking for the cause of the reduction in free cash flow. They claim it's due to a high volume of customers paying their bills two days late. That's not it, Randall's an accountant, let him figure it out.
With the increase in operating expenses, i.e., gasoline, electricity, natural gas, paper, toner cartridges, airfares, etc., it's getting quite expensive to run the day-to-day operation compared to a year ago. T will most certainly have to take some drastic measures to reduce those costs overall. You and I know the quickest way to do that and most certainly, so does upper management! Say, "Good night, Di-k!"
AT&T Business (the organization that Chow is leaving behind for Welday to manage) “surplussed” people on Thursday. Last day: August 4th.
Stankey needs another $2B in cost savings to meet his commitment of $6B. You can only guess where he will get this savings, layoffs!
It's definitely not too late to begin the layoff process! It's essentially the beginning of August and that would easily give a 60 day notice for an October off-payroll date. Haven't you ever heard of October fest in AT&T? T was notorious for laying off personnel in October! I believe this year will be an October fest of epic proportions! Hang on to your hats, this is going to be a roller coaster ride with lots of people feeling sick to their stomachs!
Wireline Business group should be updating their resumes ASAP....
being that it's almost August, cost savings will be a challenge since most capital has been committed. As far as layoffs, this also is late since it will take those business units and HR 45-60 days (late OCT early Nov) to build the business case to move forward with a layoff. Current policy calls for a 60 day notification which any headcount saving rolls into 2023. Again, leadership asleep at the wheel for any cost savings in 2022.
Donno what person who started this post is thinking. Must be so kind of joke. Really naive dude or someone who is pressing the buttons and looking for dun.
Was considering retirement at the end of this year. Should I stick around and wait for a severance package possibly in the 1st quarter of next year? I'm kind of torn between holding out and just throwing in the towel. Corporate BS gets under your skin at some point! Sometimes I think it's just not worth the wait!
The layoffs are not related to qtrly results. The layoffs are part of the company’s new vision. They want to get to $6billion in reduced costs. Additionally, the business wireline product portfolio has been reduced to 6 products
We need less sales, support and techs to service the new product line.
The country will have a severe economic slowdown in the 3rd & 4th qtr of 2022.
Disagree here, there's going to be a lot of economic headwinds come Q3, just because Q2 saw healthy numbers doesn't mean things can't change once rates get hiked, debt service costs increase and most importantly subs start decreasing because of tight personal budgets. Well known by Q4
Can I get some of what you people are smoking? Are you people new to AT&T! Layoffs is the T way and has been for years and years ever since the divestiture of 1984! I have seen annual declines in T headcount every year for decades! It could be any area of the business, Marketing, Finance, Sales, Advertising, you name it! Although, several of the aforementioned departments have already been hit and more unlikely not to be this go around. Rest assured, there will be downsizing in T and you can take that to the bank!
Try smoking that...!
I tend to agree with you.