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After Disney fired all their American tech workers and replaced them with cheaper H1B workers, I'm not surprised by anything Korporate Amerika does anymore. This new tax bill helps cement the stranglehold corporations and their wealthy directors have over the American people. Korporate Amerika is robbing American citizens blind. Look forward to MORE voter suppression tactics in future national elections, to ensure the Korporatocracy doesn't get overthrown. The writing's on the wall.
LOL This is so common of ATT, and has been as far as I can remember. Search around on the internet, and there's probably a list of their endless layoffs over the years. I remember a particular case in the 80s that I looked into. They laid off tons of people, and then immediately afterwards spent tons of money on new advertising campaign. They made it look like they were struggling so bad, and had to cut back and downsize, etc. But it was all about siphoning off employees, doing the ads, and getting new people in at a lower income. Games.
Even with this latest case, you could probably pull back the masks, and blow away the PR smoke screen, and see where they want to put that money (either for folks at the top, or for investors, or some new campaign).
They're among the worst and slimiest of companies as to worker respect and longevity.
My neighbor was forced into retirement as was his entire department... he just smiled and took his payout...
He said the corp big shots have no idea what they are doing and my friend was right.
In letting everyone go they had NO ONE with the institutional legacy knowledge necessary to keep things functional... it wasn't two weeks before management beg him to come back... so he smiled some more.
In the end... he demanded a two year consulting contract and got it... it was very favorable to him and spelled out exactly what was required and additional charges for after hours consultation...
It took about two years to get someone up to speed...
He always said he was born in the Brier patch and anyone with a little on the ball thrives in the midst of ciaos...
Another friend is a utility lineman in his 70's... he has the perfect job and 100% loves coming to work... 50 years now and at the point he is the only one that knows why things were done a certain way... his wife says he should retire... but he is having too much fun... guess if you can last long enough your value to the company increases.
SBC / at&t (always the wrong choice) has been laying off 50 workers a week since 2011.
There is No package.
Severance pay is capped at a maximum of 6 months.
For those with a pension program the years of service + age calculation may allow you to be vested ( over 20 yrs over age 55)
Union positions are now being made to suffer the burden of paying for their own benefits just like management.
Any Union pay increases are negated with a one for one reduction in force.
If three Union people each make $20 an hour, contract renegotiated, two workers now get $25 each, the third is fired, leaving
an addition $10 in share holder value.
Everything is being outsourced, NO Body is being retrained.
Entire buildings much less departments are Filled with H1B workers the rest consultants.
Curry and Hummus can now be found in the cafeteria and most pork products have been dropped.
The stock is a great dividend cash cow but the company itself will be going the way of Bell Labs.
When their stock hits $50 there will be less than 100K direct workers on the payroll.
Yawn. This is routine in a large corporation that employs almost 300,000 people and has some restructuring and catching up to do. Nothing unusual, but the liberal journalists are going to make a big thing of it to show that the new tax laws are not really helping the American people.
Perhaps what if it's not? Perhaps the country's economic performance isn't tied solely to tax cuts? Of course a fer Conservatives have sought to spend it that way.
From the article, "Across the Midwest, an estimated 600 workers were notified they were being laid off by the company on December 16, a week before AT&T announced it was doling out $1,000 bonuses to 200,000 of its employees in celebration of the Republican Party's tax overhaul."
A $1,000.00 bonus is great, it was unexpected and will surely help out with some holiday bills. But knowing your employer torpedoed 600 of your fellow employees just before Christmas to basically cover that paltry (in the grand scheme of things) bonus should leave a pretty bad feeling in your mouth.
I will be citing this rather crass decision as one of my reasons to switch from AT&T at the end of this year.
Yes, there's no real "good" time to fire people, from the employees' perspective, but just before Christmas? They must have a really unimaginative Public Relations staff.
Quote:
Originally Posted by Ro2113
Well will you look at this. So much was made about the bonuses they were giving out due to the tax bill yet this slipped under the media's radar. There's always a catch to everything.
I think I'll bookmark this story.
To these points, I hope you haven't posted this in the political forum, people are defending the tax cut bonuses and gloss over the 600 positions citing redundancies... Don't get me wrong, I'm sure there is, but I think this was a bad time to cut 600 jobs. Christmas week is their last paycheck and they have to wait what, 3 weeks to get an interview due to offices being closed for Christmas?
As a huge stockholder, I am happy with its performance as far as growth goes.
I’m not sure how long you’ve held it but it’s performance hasn’t been anything special for some time now
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Don't get me wrong, I'm sure there is, but I think this was a bad time to cut 600 jobs. Christmas week is their last paycheck and they have to wait what, 3 weeks to get an interview due to offices being closed for Christmas?
