This typically happens Nov/Dec..Have you heard anything? And any impacts to your team?
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Hoarding CASH!
2022 funding froze in June. 2023 funding is already locked. What happens between Aug and Dec 2022 will be much less than planned. T does this every year. They under-estimate the cost for projects and when funding starts in a new year, too many people charge to them. And then Aug-Dec projects are stopped or reduced. A year's worth of funding runs out by August. Contractors are asked to take unpaid time off. Programs return any extra money to the corp for dividend payout. We limp along until Jan every year.
T is in 3rd place in all categories that matter- last in market cap, debt, outstanding shares, share price, number of employees, and qualified CEO.
Nothing good could possibly come from being in last place- layoffs, reduced benefits, reduced pay, hiring freeze, and more pressure to do more with less.
It always begins in August and gets to extreme around Dec 19.
T Has a ton of money. We have naming rights to the finest nfl team. We own a ton of land, telephone poles everywhere, yep we own them. T is much to big to fail!
Help! Help! The sky is falling. It's going to be BAU going forward. Again, this company has been around 150 years and ain't goin nowhere. Sure we may cut back here and there a little, however, the money machine keeps keepen on. Remember this company went through the depression years, ain't nothing gonna stand in our way!
That’s exactly what happened to the OPT’s in the SE right before the large surpluses started in 2019 and is currently going on now. Supposedly talking about hiring more people, but OT for the rest of the year is stopped and work is disappearing. Term’s are still here, but our surplus announcement date is 9/15. If the term’s get their two week notice on 9/1, we’ll really know that there will be a layoff this quarter.
My project just got paused today too. Guess you won't need the electromagnetic shielding in the central offices after all. Best of luck to you who work there. Your glow really makes the company shine.
For Northern California Fiber construction teams, lack of FNAP (fiber cable with at span pole terminal sc--w in points) and BAU fiber cables, so no new build work; and just recently took pole transfers away. Very little to do except some underground overpull here and there. A lot of TERM OPTs sitting in their trucks.
A couple of months ago all Azure migrations which had not started have been put off til 2023. Some migrations in flight have since been postponed. These migrations were touted as a big cost savings versus bare metal. The fact they have been postponed tells you a lot.
The projects may be on hold, but the perks just keep on coming for VP and above! More free cars, insurance and free flights on the company jets.
The longer management waits the more the stock price falls!! $16 by the end of the year. The market cap will fall below $120 billion before the end of the year.
It’s happening whether you believe it now or not. The “it” is surplus and expect it. I don’t know who but it’s realistic to think if you work around copper you will be at the top of the list.
The company already said they were looking to reduce GA staff earlier this year.
It’s not just debt look at T’s outstanding stock compared to our competitors
We have 3billion more outstanding shares that’s VZ. That’s billions of dollars a year in additional dividends VZ doesn’t pay.
It’ll be a decade before T can correct the ship.
Thank Stankey and RS for all of their strategic moves.
Cost cutting outsourcing deals are oxymorons. Stankey and like focus on removing headcount, while requesting any work these outfits who are now in charge of internal systems are costing an arm and a leg. Meanwhile, there is not funding to replace aging systems which are vital to the business. But hey, let's go buy another data science/business intelligence product because we don't have enough reports. Important work will be place hold, while grift pet projects will continue to thrive.
"This is ALL conjecture", these are the people that still believe in the tooth fairy. Open your eyes, the business could barely cover dividend payments, we went from 1st to 3rd, the stock is at an all time low and no within sight of our biggest competitors. Yeah..it's all conjecture alright. This poster has the same attitude that Dallas has and continues to pedal to employees. Get your head out of the sand.....
Big changes on my "team".
I had to change jersey numbers and switch lockers.
You're not on a team.
You'll never make it team mate.
This is ALL conjecture, pure speculation on everyone's part! Nobody knows for sure the state of this business since it's all on the know and nobody knows! The debt is the big albatross around the neck of T business, but it also generates huge amounts of cash from the mobility business! Unless anyone on this website is "in the Know," don't believe anything you read on here!
The tough choices about to be made are the direct result of Stankey and Randall. They alone put us in such a poor position.
When you get surplused make sure to yell T those two.
Yes NC fiber build out 2022 no longer going forward, just special projects, the FT openings we were told about back in April didn't appear. Time steps taken away, cant add steps, limited work but was informed on Friday AM that DPC quality and performance rides were coming back for low performers. Typical T environment!
Usually in September Data centers quit making changes. We should also see a freeze on changes when new iPhones are rolled out. I haven't heard of across the board having projects on hold yet. As ops said, usually November we do
It's gonna be a rough Christmas for many this year.
Still paying Accenture millions and millions for unnecessary system upgrades and big fixes. Why is he allowing so much to be spent on unnecessary, expensive tech dev? Support systems are good enough - stop making Accenture rich. We don’t have the money.
You ain't seen nothing yet, just you wait. Stankey is about to turn this company on it's ear. You won't even recognize at&t in 2 months. He has no choice, it's time to make the hard choices.
Project funding was pulled and hiring freeze put in place.