Prediction: by the end of March 2024 (following significant surplus). AT&T will have 120,000 employees. 40,000 less than today. This is precisely your $6B cost reduction.
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Need to find a way to make AT&T more productive.
Company has to find a way to get employees focused again. People that have to move don’t know “by when”, others wondering who “new boss will be” & of course so many considering whether or not to move. Supervisors with people out of region don’t know when they can share info and severance info. Until all info is shared, desperately needed productivity will suffer.
AT&T is in a world of hurt and needs to figure out how to right the direction of this company. The outlook gets bleaker and bleaker everyday just based on the stock performance and how Wall Street views management! God, help us all!
You can forget about severance.
And then time to cut another six billion.
Having a totally incompetent CEO, the stock price hit a low today of $14.85. It's obvious they are looking to cut employees at the wrong level. They need to start at the top with Stankey but the BOD is too weak. You can't save your way to growth by cutting headcount. This RTO will cause greater chaos and lost productivity as we move forward. The point is that reaching $6B savings will not solve the problem. Stankey is too stupid to even know he's stupid
The end game is not 120k employees. The 3 year phase out/ playbook is showing the right sized headcount to be around 90-100k when all the cuts are done.
Maybe Stanley should ask T-Mobile to get the money back? It was very stupid deal.
And it'll only cost $4B in severance! And another few billion in lost productivity over the next year, because thinking about this cr-p is all anyone is doing and will be doing.
And precisely the amount of money Stanley gave T-mobile in one of his many failures.