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CEO Stephenson's XMAS Present To 12,000 AT&T Employees |
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Monday, 15 December 2008 |
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On December 8th the Union was notified that there would be a pending lay-off of 4,800 CWA members across all the core contracts. This included 1000 temps and terms that would be work completed. Within the Legacy T contract there was a Lay-Off/VTP of the 76 employees that are part of the 4800 affected bargaining unit employees across the country. It looks like the rest of the lay-off announcement for the Regional (former Bell) employees will be today. The off roll dates for the 4800 bargaining unit members will be by the first quarter of 2009. The total number of employees affected by the company's announcement today is 12,000, which includes Non-Represented and Management.
It is outrageous, with the holidays approaching and the economy tanking, due to no fault of the workers in America, when more than ever our members are concerned about their jobs, the company chooses to do a catastrophic lay-off. It appears too many of us that this lay-off is part of the company’s attempt to take advantage of the current trend to downsize their workforce and tie it into the economy. It also seems to be the case that the company will retain their executives and they will still be able to pull down their wages and benefits with no interruption. As you will see in the following figures from the AFL-CIO Executive Pay Watch, AT$T CEO, Randall L. Stephenson and his family will have a very Merry Christmas and Happy New Year this year and many years in the future. Randall L. Stephenson Chief Executive Officer AT&T Inc. AT&T Inc. uses the new U.S. 2007 Compensation | SEC Total | AFL-CIO Total* | | Salary | $1,158,583 | Salary | $1,158,583 | | Bonus | $648,750 | Bonus | $648,750 | | Vested Stock Awards | $8,283,288 | Grant Date Fair Value of Stock and Option Awards | $12,123,494 | | Vested Option Awards | $790,911 | | Non-Equity Incentive Plan Compensation | $3,851,250 | Non-Equity Incentive Plan Compensation | $3,851,250 | | Change in Pension Value and Non-Qualified Deferred Compensation Earnings | $7,023,299 | Change in Pension Value and Non-Qualified Deferred Compensation Earnings | $7,023,299 | | All Others | $225,903 | All Others | $225,903 | | SEC Total | $21,981,984 | AFL-CIO Total* | $25,031,279 |
How Many Years to Equal Randall L. Stephenson’s 2007 Compensation? | Using the SEC Total | | Minimum Wage Worker | 1613 years | Completion Date | 3621 A.D. | | Average Worker | 744 years | Completion Date | 2752 A.D. | | U.S. President | 54 years | Completion Date | 2062 A.D. |
| Using the AFL-CIO Total | | Minimum Wage Worker | 1837 years | Completion Date | 3845 A.D. | | Average Worker | 847 years | Completion Date | 2855 A.D. | | U.S. President | 62 years | Completion Date | 2070 A.D. |
How Many Workers Equal Randall L. Stephenson’s 2007 Compensation? | Using the SEC Total | Using the AFL-CIO Total | | Minimum Wage Worker | 1613 workers | | | Minimum Wage Worker | 1837 workers | | Average Worker | 744 workers | | | Average Worker | 847 workers | | U.S. President | 54 workers | | | U.S. President | 62 workers | | | | | | | |
HOW ABOUT OUTSOURCING RANDALL L. STEPHENSON’S JOB? |
