2023 is the third and final year of Stankey's $6 Billion cost reduction initiative in which he has to come up with $2 Billion is cost savings on a run rate basis. He stated, "that when all is said and done there will be 15,000 fewer AT&T employees by the end of 2023".
Many of those employees impacted are long tenured and relatively highly compensated. Multiplying the HC reduction number times an average total expense per employee of $150,000 per annum results in an annual cost reduction of over $2 Billion.
The HUB/RELO initiative is John Stankey's answer to his cost savings problem-nothing to do with collaboration, everything to do with his bonus.