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March 4, 2020 09:20 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/xSjRPVU0ZEw/struggling-att-plans-tens-of-billions-in-cost-cuts-more-layoffs
Struggling AT&T Plans 'Tens of Billions' In Cost Cuts, More Layoffs
An anonymous reader quotes a report from Ars Technica: AT&T is planning tens of billions of dollars worth of cost cuts, AT&T President and COO John Stankey told investors yesterday. Stankey also discussed the future of DirecTV satellite service, saying it won't be the primary TV option AT&T pitches to most customers going forward. For the company-wide cuts, AT&T management "has looked at effectively 10 broad initiatives that we believe can generate double digits of billions over a 3-year planning cycle," Stankey said at a Morgan Stanley conference, according to a transcript posted by AT&T. One of the first of those 10 initiatives will include job cuts, which Stankey called "headcount rationalization." Stankey noted that AT&T has already been cutting jobs but said the company plans "additional work" in that area. Longer-term cost cutting would start paying off after about two years, Stankey said. That will include "IT rationalization and architecture rationalization, turning down applications, movement to the cloud, getting cost efficiencies in our very, very broad infrastructure, some of that facilitated by portfolio rationalization." AT&T is also looking at ways to reduce electricity costs and a "billing and credit collections rationalization," Stankey said. [...] As AT&T shifts toward online-only services like AT&T TV, it is de-emphasizing the satellite service despite spending $48.5 billion to buy DirecTV in 2015. Stankey said yesterday that the future of TV is in software, not satellites, and that DirecTV will primarily be relevant in places without fast broadband: AT&T purchased DirecTV because "we like the DirecTV customer base, thought it was attractive," Stankey said. But "shortly after that [acquisition], we made it clear that we would be developing a software platform that would ultimately not only take our satellite base and offer them a more updated product, but be the replacement for the U-verse [wireline TV service]," he said.Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/xSjRPVU0ZEw/struggling-att-plans-tens-of-billions-in-cost-cuts-more-layoffs
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