Thread regarding AT&T layoffs

Perhaps some clarification on who is getting fired-WHAT SAY YOU?

A recent post indicated employment declined from 203,000 in 2021 to 160,700 in 2022, a decline of 20.8%. That is quite extraordinary for a large mature company, and something not mentioned very often in the press - even in the WSJ.

But who is getting the axe? The recent annual report of AT&T pensions (including 401k) provides some insight. The net transfer out of the management plan for 2022 (most recent year available) was 12% of plan assets at the beginning of the year while the union plan had a net transfer out of the plan of only 3%.

My personal conclusion is when net transfers out of a plan are positive it is an indication of headcount reductions. The difference between 12% and 3% is 4X and indicates most of the headcount reductions are coming from individual contributor management. JS is nobody's friend but especially not non-represented management.

Management $Millions

Participants 218,225

Beginning Assets $53,749.24
Ending Assets $37,570.41

Net Change $(16,178.83) -30.1%
Net Transfer Out $(6,405.58) -11.9%

Union $Millions

Participants 31,667

Beginning Assets $2,536.50
Ending Assets $1,980.57

Net Change $(555.93) -21.9%
Net Transfer Out $(72.44) -2.9%

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| 2729 views | | 30 replies (last January 6, 2024) | Reply
Post ID: @OP+1qlon01j

30 replies (most recent on top)

“ Keep telling yourself that, it’s contract year but good try. It will be a non event, union will get COLA capped at 5%, and better than normal raise and better 401k match. It’s already happened for Black contract in mobility and D4 was extended in 2022.”

Fanstasy post. “ Nevermind the smell of smoke”. - Hindenburg Captain

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Post ID: @6kno+1qlon01j

The numbers above have NOTHING to do with the pension transfer. The plan numbers shown are for the 401k plans.

Ok, but the previous comment still applies - a bunch of people left on their own ,some left because the company they worked for was sold, while others were surplused. Looking at net transfers out does give the full picture. The same is true for the folks repeating the employee count covering the timeframe when DTV and TW were spun off.

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Post ID: @4fec+1qlon01j

Keep telling yourself that, it’s contract year but good try. It will be a non event, union will get COLA capped at 5%, and better than normal raise and better 401k match. It’s already happened for Black contract in mobility and D4 was extended in 2022.

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Post ID: @3oly+1qlon01j

Contractor techs > union techs

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Post ID: @3gbe+1qlon01j
You can qualify to be a T tech by taking one online course from ITT and scoring above a 70%.

Which is extremely offensive and goes to show how out of touch with reality T leadership is. They are used to measuring jobs by numbers in a spreadsheet, not by what actually goes into the work.

I have to do contingency planning training, and I can tell you right now I am not gonna be able to replace these guys. Just like Stankey would not be able to replace them or anyone in management.

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Post ID: @3lhk+1qlon01j

“ I would encourage anyone who thinks working as an outside technician to give it a try”

You can qualify to be a T tech by taking one online course from ITT and scoring above a 70%.

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Post ID: @3nmt+1qlon01j

“ Don’t respond to the troll who was surplussed, he’s been on multiple threads constantly stirring the pot about the union and management because he has a case of the red a$$.”

Top notch T union employee here. The command of the English language is directly proportional to the IQ..

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Post ID: @2usc+1qlon01j

The numbers above have NOTHING to do with the pension transfer. The plan numbers shown are for the 401k plans.

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Post ID: @2qmf+1qlon01j

Could the transfer rate reflect the pension dollars moved to the insurance company earlier this year? Also, many people left in 2022 beacuase of the rising interest rate and the resulting negative impact on their pension.

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Post ID: @2ldi+1qlon01j

They spun off DirectTV in 2021 and Time Warner in 2022. That probably equates to more headcount reductions then layoffs and firings.

That is exactly what happened along with other assets being sold, layoffs and attrition. People see the before and after numbers and incorrectly assume it is the result of layoffs.

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Post ID: @2swx+1qlon01j

Headcount reduction goal for 2024 is >50K employees off payroll by June 1st. Targeted groups include retail, mid markets, fiber, network, field techs, building maintenance, and customer service.

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Post ID: @2clv+1qlon01j
They won't be bean counting when we're out on strike. It'll be fun to watch them struggle.

Struggle doing what? :) I'll be chilling in the van watching YouTube.

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Post ID: @2eaz+1qlon01j
If instead, you desk goblins, updated the century old task system and stopped enforcing stupíd rules created by people who've never touched a hammer in their lives, the techs would be even more efficient and cost effective than contractors.

Desk goblin here. Trust me, I feel you. We have to deal with the same century-old bullsh-t as well. Archaic processes so over-complicated that going through them is more work than the actual implementation. Unfortunately, unless this company develops two-way communication with leadership, that isn't changing.

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Post ID: @2wgb+1qlon01j

Techs also get 2-15 min. breaks and an hour unpaid lunch, so where do you think they go? Some people are clueless and can only point with one finger while their other three are pointing back at them. Bless your heart!

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Post ID: @2ojo+1qlon01j

Don’t respond to the troll who was surplussed, he’s been on multiple threads constantly stirring the pot about the union and management because he has a case of the red a$$.

I would encourage anyone who thinks working as an outside technician to give it a try for a while then come back and tell us how easy it is both mentally and physically. Techs have to constantly analyze and correct all the issues with time reporting software, poor contract eng. prints, work orders, incorrect reach contacts, incorrect addresses, incompetent offshored support, jobs not ready, materials not available, sites not turned up, constantly reading emails, texts, monthly safety training, compliance training, etc…. So yes, there is some time spent in a vehicle trying to train, correct or figure out all of the issues. It’s our office, Duh!!!

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Post ID: @2ron+1qlon01j
Rich to complain about techs resting while you're all sitting in your cubicles bean counting.

They won't be bean counting when we're out on strike. It'll be fun to watch them struggle.

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Post ID: @2eib+1qlon01j

Rich to complain about techs resting while you're all sitting in your cubicles bean counting.

If instead, you desk goblins, updated the century old task system and stopped enforcing stupíd rules created by people who've never touched a hammer in their lives, the techs would be even more efficient and cost effective than contractors.

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Post ID: @2mrn+1qlon01j

The company is well aware of the tech time mismanagement. Managers are complicit. This is only one reason contractors are being given work at a rate never seen before. They know techs sit in trucks for hours and manipulate task time.

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Post ID: @2wsq+1qlon01j

No layoffs for D3 SE bargained in the 1st qtr.

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Post ID: @2suo+1qlon01j

I hate at&t. Period!

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Post ID: @1sxh+1qlon01j
The next significant movement will be union resources. They will be equally impacted in the same fashion, many with compensation as incentive

The company will TANK when most of the experienced union techs leave the company taking with them a lot of knowledge.

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Post ID: @1fuh+1qlon01j

Sadly, with the various waves of RTO, MANY will be impacted this year who chose not to “live their designation” and move to a company required job specific location.

Sad, but VERY true.

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Post ID: @1nwn+1qlon01j

“ I want to be laid off in 2024.”

This will be a good year for you.

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Post ID: @1adj+1qlon01j

I want to be laid off in 2024.

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Post ID: @1lrp+1qlon01j
engineering will be nearly entirely outsourced

Nope, engineering will be offshored. Saves even more money than outsourcing as they don't have to pass the savings onto someone else who then did the offshoring. So it will be soon be "India Telephone and Telegraph" since they probably can't use ITT abbreviation.

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Post ID: @1zyu+1qlon01j

“Don't worry they'll get it close to or below 100k. Zero employee telco is the goal.”

All kidding aside, the goal is to reduce overall headcount of badged employees to a significantly low number, more like 75k. Call centers will be moved to vendors or international locations, techs will be consistently replaced by contractors, engineering will be nearly entirely outsourced, sales will move to authorized agents and service providers, marketing will be split between badged and partner firms, maintenance will also shift to vendors.

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Post ID: @1ric+1qlon01j

Don't worry they'll get it close to or below 100k. Zero employee telco is the goal.

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Post ID: @1qhe+1qlon01j

“ They spun off DirectTV in 2021 and Time Warner in 2022. That probably equates to more headcount reductions then layoffs and firings.”

Nope, these number are largely badged T employees

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Post ID: @hwk+1qlon01j

They spun off DirectTV in 2021 and Time Warner in 2022. That probably equates to more headcount reductions then layoffs and firings.

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Post ID: @oxv+1qlon01j

Management levels have been incentivized to leave the company. That wave has been effective for T. The next significant movement will be union resources. They will be equally impacted in the same fashion, many with compensation as incentive, however many will be shed without.

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Post ID: @jyh+1qlon01j

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