Is there AT&T layoff in 2023? It seems the company is now planning a round of layoffs in disguise. The reports said relocation or resignation options would affect about 15 percent of the company’s workers.
According to reports, the company declared all managers and employees must return to the office. Attending three days weekly at one of the nine consolidated operations is necessary.
Although some belong to the nearest area while some live far away from the locations, those who cannot return to the office have given two alternatives. One is to relocate, and another one is to resign. Moreover, the company confirmed it wouldn’t usually cover moving costs.
AT&T also phased out its 3G network in February 2022. Some said the company went out of business, but it is not true. AT&T is still there. Besides, AT&T plays a pivotal step in improving the mobile network. Later, it started to invest in 5G.
Here’s what you all need to know about AT&T. Further, we discussed how many employees have been affected, the future of AT&T, and many more. So, Move your mouse to Stay in the Loop to learn more about AT&T Layoffs!!
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Is AT&T Laying Off Employees?
Yes, AT&T is laying off Employees… The telecom giant AT&T is downsizing its business. It has been leading the way in eliminating jobs among its several big operators. It is reported, Operators in North America and Western Europe are widely affected.
It said the company is shedding 117,100 workers by 2022. Besides, since January, it has also reduced more than 5,100 jobs.
The company’s CEO John Stankey said last month, “Workers have to move or quit their jobs.” He told 60,000 managers would have to return to the office by early July. If not possible, then they have to resign from their positions.
Do you know? AT&T operates 350 operations alone in the United States. The workers returning to the office are from one of the designated operations. Workers must return by the given period, or they will quit their jobs.
AT&T layoffs were scheduled for four consecutive Mondays this year in June. It was the 5th of June, 12th of June, 19th of June, and 26th of June. In this round of layoffs, thousands of AT&T employees were affected.
PREVIOUS COST-CUTTING MEASURES
It is not an isolated incident. In 2021, AT&T merged with Discovery to get into Warner Bros. Discovery. To do so, it separated its division from WarnerMedia. The company has announced plans to cut 18,000 jobs in 2022.
- In 2022, AT&T laid off about 18,000 employees.
- In 2023, AT&T laid off thousands of its workforce.
Why Did People Leave AT&T In 2021?
According to reports, AT&T clients decided to leave AT&T in 2021. Are you curious about the reasons for this? Below you can get your answer. Let’s find out:
- The first and foremost reason was a reduction in Health Benefits.
- Appreciation of the Housing Market.
- Some were saying there was no hike in salary. It was like working for free for the next few years.
- High-interest rates
- No retiree Healthcare subsidy will be given after 2021.
- No longer be able to provide medical and dental monthly premiums.
- At AT&T, Supplemental coverage was not covered by a healthcare reimbursement account.
- No longer be able to cover out-of-pocket costs.
- Moreover, No incremental Coverage was offered any longer.
All in all, Clients said, staying with AT&T means losing your own money.
What Is The Future Of AT&T?
It is true AT&T is laying off employees. However, the news came that the layoffs caused concern among AT&T investors. Reported that the stock price at AT&T fell by 5 percent when the layoff took place.
But the company has a cloudy future. If we check the predictions made about its stock price, it shows:
According to analysts who predicted a 12-month price for AT&T Inc., AT&T has a median target of 21,00 with high and low estimates of 25.00 and 9.00, respectively.
Moreover, the median estimate is a 33.00 percent increase from its previous price, i.e., 15.79.
But for investors, it is a matter of concern. AT&T’s future is uncertain due to these layoffs. It dropped the investors’ confidence. The company’s stock price was hit hard, declining by over 5 percent.
Is AT&T A Successful Company?
As of 2023, AT&T is a safe, stable, and successful company. The business is stable, with over a 5.6 percent sky-high dividend yield. However, the company is laying off employees as layoff is just a part of every company’s strategy. To streamline its business, the company usually does layoffs. Several other reasons can also be possible, but the major reasons remain the same.
The company generated revenues of nearly 168.9 billion U.S. dollars in 2021. When it comes to Net income is 21.4 billion U.S. dollars. The assets were 551 billion U.S. dollars worldwide.
AT&T is an American telecommunications technology conglomerate founded in 1983. It is one of the largest telecom companies in the country. This Multinational Holding Business is headquartered in Delaware and provides mobile telecom services in the U.S. In terms of revenue earnings. It also comes at the top of a list of the biggest mobile telephone service providers worldwide. In the 19th century, AT&T started as Southwestern Bell Telephone Company.
After putting a strong foothold, it renamed the company SBC Communications. Later, it again changed its name from SBC Communications to AT&T. In later years, it spread its business and had a monopoly nationwide over telephone services. In terms of revenue and services. The company became strong and remained unbeaten throughout the 20th century.
AT&T’s layoff decision affected the company in every aspect. But still, the company is stable. It is mentioned that AT&T offers severance packages. It offers to those affected by a round of layoffs this year.
How Many Employees Does AT&T Have?
The employees are struggling with various issues due to layoffs. It is true; the company committed to offering severance packages. But the layoff move distressed the company’s workforce.
According to reports, AT&T is one of the biggest telecommunication companies worldwide. It has a large number of employees. Let’s lighten the annual employee record of AT&T worldwide from 2019 to 2023. Here you can check:
- AT&T’s total employee count in 2019 was 246,000. The total number of employees drop by 8.21 percent from 2018.
- AT&T’s total employee count in 2020 was 230,000. The total number of employees drop by 6.5 percent from 2019.
- AT&T’s total employee count in 2021 was 203,000. The total number of employees drop by 11.74 percent from 2020.
- AT&T’s total employee count in 2022 was 160,000. The total number of employees will drop by 20.84 percent from 2021.
In 2023, the company planned layoffs. There is a huge decline in the total number of employees in 2023 compared to 2022. But it is unclear what is the total number of employees reported in 2023 so far.
Who Are The Biggest Competitors Of AT&T?
Apart from layoffs, there are several biggest U.S.-based AT&T Competitors. The Biggest market rival is Verizon. However, plenty of other companies can be the best alternatives to AT&T.
Listed below are some of the leading AT&T Competitors you should know:
- Verizon – Founded in 1983 and has more than 130,000 employees nationwide.
- Vodafone – Founded in 1984 and has more than 92,000 employees nationwide.
- T-Mobile U.S. – Founded in 1999, it is the second-largest wireless mobile carrier in the U.S.
- Comcast – Founded in 1963 and has more than 190,000 employees nationwide.
- COX – Founded in 1898. It is one of the largest digital cable T.V. operators in the U.S.
- Cricket Wireless – Founded in 1999, with more than 220 employees nationwide.
- Deutsche Telekom – Founded in 1995, with more than 216,000 employees nationwide.
- Telefonia – Founded in 1924 and has more than 113,000 employees nationwide.
- Orange – Founded in 1988 and has more than 266 M subscribers worldwide.
- America Movil – Founded in 2000 and has more than 189,000 employees nationwide.
- China Mobile – Founded in 1997, and has more than 484,332 employees nationwide.
- Reliance Jio – Founded in 2007. It is India’s biggest telecommunication.
- Singtel – Founded in 1992.
- KDDI – Founded in 2000 and has more than 41,000 employees nationwide.
- Nippon Telegraph & Telephone Corporation – Founded in 1952, and has more than 319,000 employees nationwide.
Final Thoughts On AT&T Layoff
So, there you have it – all about AT&T layoffs and more. You can also check some of the interesting and best AT&T rival companies worldwide.
This round of layoffs shows that the telecommunication industry is evolving. People ask why the company has taken this drastic step. It is due to the rising operational costs driven. The future is uncertain, as this move impacted AT&T employees to a greater extent.
AT&T is one of the largest telecommunication corporations with many employees. Recently, it lost hundreds or thousands of its customers. Now, the company is losing hold of its customer base. It reported the company lost 15 percent of its total subscriber base.
In 2019, it shed around 945K subscribers (including DirecTV and U-verse subscribers). Besides, it lost 219 K AT&T TV Now subscribers. The company shed more than 1,160 M subscribers in just Q4 2019. When it comes to the full year, then it lost a total of 3.43 M MVPD subscribers.