With a sharp decline in net revenue, the company continues to implement restructuring measures to optimize costs. Another round of layoffs is approaching, significantly impacting thousands of employees.
1. A sharp decline in net revenue triggers another wave of layoffs at AT&T
Telecommunications giant at&t (nyse:t) is facing severe challenges as its net revenue plummets, forcing the company to initiate another massive workforce reduction. From 2018 to January 2023, at&t’s employee count dropped from 268,220 to 160,070—a reduction of over 40%.
This is not merely a downsizing but a reflection of the company’s financial downturn. In 2018, at&t reported net revenue of $19.4 billion, but by 2022, this figure had plunged to negative $8.5 billion. Meanwhile, earnings per share (eps) have been on a continuous downward trajectory for nine consecutive quarters, dropping from $0.89 in q2 2021 to $0.64 in q3 2023.
Amid this uncertain business landscape, ceo John Stankey made a controversial decision in May 2023: he mandated approximately 60,000 managers to return to the office after a prolonged period of remote work during the covid-19 pandemic.
Additionally, at&t drastically reduced the number of management offices from 350 to just 9 locations. This means many employees now face longer commutes, potential relocations, or even the tough choice of leaving the company altogether.
Stankey stated that the office consolidation aims to enhance collaboration and streamline personnel for greater efficiency. He also hinted that the company anticipates a wave of voluntary departures following this decision.
According to Bloomberg, about 15% of the managers affected by the return-to-office mandate—approximately 9,000 employees—are expected to leave at&t. However, internal sources suggest the actual number could be as high as 25,000.
At&t’s aggressive cost-cutting measures indicate its efforts to recalibrate its strategy in response to financial difficulties. However, the significant loss of managerial staff may pose new challenges for the company in the coming phase.
2. AT&T aims to save $2 billion and improve employee earnings
AT&T, one of the largest telecommunications corporations in the U.S., is implementing a cost-cutting plan of up to $2 billion to optimize operations and enhance financial performance. This initiative follows the company’s successful savings of $6 billion, achieving that target months ahead of schedule.
A key driver behind AT&T’s decision is the revenue per employee gap compared to major competitors like Verizon (NYSE: VZ) and T-Mobile (NASDAQ: TMUS). According to Bloomberg data, as of March 2023, each Verizon employee generated approximately $1.2 million in annual revenue, while T-Mobile’s figure stood at $1.1 million. In contrast, AT&T reported significantly lower revenue per employee, reaching only $0.8 million as of December 2022.
Optimizing costs will not only boost AT&T’s profitability but also allow the company to invest in critical areas such as 5G technology, network infrastructure, and employee benefits. If successful, this plan could help AT&T close the productivity gap with its competitors while strengthening its position in the highly competitive telecommunications market.
However, large-scale workforce reductions indicate that AT&T is grappling with challenges in maintaining financial efficiency. This raises concerns about the long-term impact on the company’s operations. Will this downsizing strategy help AT&T recover, or will it only deepen its struggles?
97 comments
StevenEmbal
This is the ugly truth: nearly all HVAC failures occur because someone missed a step. Failed to calculate the load accurately. Used incorrect equipment. Misjudged the insulation needs. We’ve fixed hundreds of these disasters. And each time, we file away another lesson. Like in 2017, when we started adding WiFi controls to each system. Why? Because Sarah, our senior tech, got sick of watching homeowners waste money on bad temperature management. Now clients save $500+ yearly.
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StevenEmbal
Here’s the brutal truth: nearly all HVAC failures occur because someone missed a step. Did not calculate the load properly. Used cheap equipment. Got wrong the insulation needs. We’ve fixed dozens of these disasters. And every time, we remember another learning. Like in 2017, when we began adding WiFi controls to each install. Why? Because Sarah, our lead tech, got tired of watching homeowners burn money on bad temperature settings. Now clients save 20-30% yearly.
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StevenEmbal
Here’s the harsh truth: nearly all HVAC failures happen because someone missed a step. Didn’t calculate the load correctly. Used cheap equipment. Got wrong the insulation needs. We’ve fixed hundreds of these messes. And every time, we record another learning. Like in 2017, when we started adding WiFi controls to every system. Why? Because Sarah, our master tech, got frustrated of watching homeowners burn money on poor temperature control. Now clients save $500+ yearly.
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StevenEmbal
Let me share the harsh truth: most HVAC failures take place because someone skipped a step. Did not calculate the load accurately. Used incorrect equipment. Got wrong the insulation needs. We have fixed hundreds of these failures. And each and every time, we file away another lesson. Like in 2017, when we started adding remote monitoring to each system. Why? Because Sarah, our lead tech, got sick of watching homeowners burn money on inefficient temperature management. Now clients save $500+ yearly.
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StevenEmbal
This is the ugly truth: nearly all HVAC failures occur because someone ignored a step. Didn’t calculate the load properly. Used cheap equipment. Got wrong the insulation needs. We’ve fixed dozens of these disasters. And every time, we record another learning. Like in 2017, when we decided on adding remote monitoring to each installation. Why? Because Sarah, our master tech, got sick of watching homeowners waste money on poor temperature control. Now clients save $500+ yearly.
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StevenEmbal
Here’s the harsh truth: most HVAC failures happen because someone skipped a step. Did not calculate the load correctly. Used undersized equipment. Got wrong the insulation needs. We’ve fixed hundreds of these disasters. And each and every time, we file away another learning. Like in 2017, when we started adding smart thermostats to all installation. Why? Because Sarah, our master tech, got sick of watching homeowners lose money on bad temperature settings. Now clients save hundreds yearly.
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Armanddub
This is the ugly truth: most HVAC failures take place because someone ignored a step. Did not calculate the load accurately. Used incorrect equipment. Miscalculated the insulation needs. We’ve fixed dozens of these messes. And each and every time, we remember another learning. Like in 2017, when we started adding smart thermostats to all installation. Why? Because Sarah, our senior tech, got frustrated of watching homeowners burn money on inefficient temperature management. Now clients save $500+ yearly.
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Armanddub
This is the brutal truth: nearly all HVAC failures happen because someone skipped a step. Didn’t calculate the load properly. Used cheap equipment. Miscalculated the insulation needs. We have fixed hundreds of these messes. And each time, we remember another insight. Like in 2017, when we decided on adding smart thermostats to all install. Why? Because Sarah, our lead tech, got tired of watching homeowners waste money on bad temperature control. Now clients save hundreds yearly.
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Brentdoump
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Armanddub
This is the ugly truth: nearly all HVAC failures happen because someone missed a step. Didn’t calculate the load correctly. Used cheap equipment. Got wrong the insulation needs. We’ve personally fixed dozens of these messes. And each and every time, we record another lesson. Like in 2017, when we began adding WiFi controls to all system. Why? Because Sarah, our senior tech, got sick of watching homeowners burn money on poor temperature control. Now clients save $500+ yearly.
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Armanddub
Here’s the brutal truth: nearly all HVAC failures take place because someone skipped a step. Failed to calculate the load properly. Used incorrect equipment. Miscalculated the insulation needs. We’ve personally fixed countless of these failures. And every time, we record another learning. Like in 2017, when we began adding smart thermostats to each install. Why? Because Sarah, our senior tech, got tired of watching homeowners waste money on inefficient temperature control. Now clients save hundreds yearly.
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Brentdoump
Let me share with you something nearly all septic companies won’t: there are two types of people in this world. Those who assume septic systems are simply “underground boxes for waste,” and those that have had raw sewage erupting into their property at 2 AM. I understood this difference the hard way in 2005—standing in muck, trembling in a Washington deluge, as my family and I assisted a grizzled installer restore our family’s failed system. I was a teenager. My hands blistered. My clothes were destroyed. But that moment, something changed: This ain’t just dirt work. It’s families’ lives we’re protecting.
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Armanddub
This is the ugly truth: the majority of HVAC failures happen because someone missed a step. Didn’t calculate the load accurately. Used cheap equipment. Misjudged the insulation needs. We have fixed hundreds of these messes. And every time, we remember another insight. Like in 2017, when we began adding remote monitoring to every installation. Why? Because Sarah, our senior tech, got sick of watching homeowners burn money on inefficient temperature management. Now clients save $500+ yearly.
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Armanddub
Here’s the harsh truth: most HVAC failures happen because someone missed a step. Failed to calculate the load accurately. Used undersized equipment. Got wrong the insulation needs. We have fixed countless of these messes. And every time, we file away another lesson. Like in 2017, when we started adding remote monitoring to each install. Why? Because Sarah, our lead tech, got frustrated of watching homeowners burn money on inefficient temperature management. Now clients save hundreds yearly.
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Brentdoump
Let me tell you something nearly all septic companies will not: there are two kinds of people in this world. Those who think septic systems are just “buried containers for waste,” and those that have had raw sewage bubbling into their yard at the dead of night. I understood this reality the difficult way in 2005—standing in mud, freezing in a Washington downpour, as my family and I helped a grizzled installer repair our family’s failed system. I was 14. My hands blistered. My jeans were wrecked. But that night, something clicked: This isn’t just digging. It’s folks’ lives that we’re protecting.
Let me share the harsh truth: the majority of septic companies just maintain tanks. They’re like quick-fix salesmen at a demolition convention. But Septic Solutions? They are unique. It all originated back in the beginning of the 2000s when Art and his brothers—just kids hardly tall enough to lift a shovel—aided install their family’s septic system alongside a weathered pro. Picture this: three pre-teens waist-deep in Pennsylvania clay, understanding how soil permeability affects drainage while their buddies played Xbox. “We did not just dig trenches,” Art explained to me last winter, steaming coffee cup in hand. “We discovered how soil whispers truths. A patch of cattails here? That’s Mother Nature yelling ‘high water table.'”
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Armanddub
Here’s the harsh truth: the majority of HVAC failures happen because someone missed a step. Didn’t calculate the load properly. Used cheap equipment. Got wrong the insulation needs. We’ve personally fixed dozens of these failures. And each and every time, we file away another insight. Like in 2017, when we started adding WiFi controls to each installation. Why? Because Sarah, our master tech, got sick of watching homeowners burn money on bad temperature settings. Now clients save 20-30% yearly.
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Armanddub
Let me share the brutal truth: the majority of HVAC failures occur because someone missed a step. Did not calculate the load correctly. Used cheap equipment. Miscalculated the insulation needs. We’ve fixed hundreds of these disasters. And every time, we remember another insight. Like in 2017, when we decided on adding remote monitoring to each system. Why? Because Sarah, our lead tech, got sick of watching homeowners waste money on inefficient temperature control. Now clients save 20-30% yearly.
https://opendi.us/
Armanddub
Let me share the ugly truth: most HVAC failures take place because someone ignored a step. Did not calculate the load accurately. Used cheap equipment. Miscalculated the insulation needs. We’ve fixed hundreds of these disasters. And each and every time, we file away another insight. Like in 2017, when we decided on adding WiFi controls to every system. Why? Because Sarah, our senior tech, got sick of watching homeowners lose money on bad temperature control. Now clients save $500+ yearly.
https://www.awwwards.com/productairheating/
Brentdoump
Let me tell you something most septic companies will not: there are two types of people in this world. Those who believe septic systems are simply “subterranean tanks for waste,” and those who have had raw sewage erupting into their property at midnight. I understood this distinction the tough way in 2005—waist-deep in muck, shivering in a Washington deluge, as my siblings and I aided a weathered installer fix our family’s broken system. I was 14. My hands were raw. My pants were destroyed. But that evening, something crystallized: This isn’t just manual labor. It’s folks’ lives we’re protecting.
Let me share the harsh truth: most septic companies just service tanks. They’re like quick-fix salesmen at a chainsaw convention. But Septic Solutions? These guys are unique. It all originated back in the beginning of the 2000s when Art and his siblings—just kids hardly tall enough to carry a shovel—aided install their family’s septic system alongside a experienced pro. Picture this: three kids knee-deep in Pennsylvania clay, understanding how soil porosity affects drainage while their buddies played Xbox. “We never just dig trenches,” Art explained to me last winter, steaming coffee cup in hand. “We discovered how soil whispers mysteries. A patch of cattails here? That’s Mother Nature shouting ‘high water table.'”
https://hive.blog/hive-178708/@praditya/the-progress