No raises till 2005, in this internal memo to AT&T employees.

4dsc

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Sat Dec-27-03 12:48 PM
Original message

No raises till 2005, in this internal memo to AT&T employees.

http://www.internalmemos.com/memos/memodetails.php?memo_id=2043

A sign of things to come??

Toward that end, I wanted to inform you that we've decided to schedule our next salary merit increases for U.S.-based management employees and international employees for April 2005. (Outside the U.S., applicable country laws will prevail.) This applies at all management levels, including officers and directors. We considered a variety of options on the compensation front, and felt that extending the merit increase cycle was the most prudent way to balance the need to reward our employees with the realities of the business environment in which we continue to operate. By April 2005, business conditions permitting, we expect to resume merit increases on an annual basis, once again tying them to the yearly performance review cycle.

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Jack Rabbit

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Sat Dec-27-03 12:55 PM
Response to Original message

1. Does anybody know if the board members got their annual bonus?

Just wondering.

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Skittles

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Sat Dec-27-03 01:11 PM
Response to Reply #1

2. of course they did

do we even have to ask?

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mitchtv

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Sat Dec-27-03 02:46 PM
Response to Reply #1

4. that's non -union employees

I believe ,I read that bonus' will be paid out in Mar.or April
Go CWA, IBEW

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Touchdown

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Sat Dec-27-03 03:20 PM
Response to Reply #4

6. That's right. It's contractual. This is a managerial memo.

Union members aren't affected. CWA/IBEW raises go into effect in May and November each year, until the contract expires in Dec 2005.

As far as CEO and board compensation is conceerned, we'll have to wait until the shareholder's meeting in June...and I wouldn't put it past them to give themselves some FAT raises.

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Scimmio

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Sat Dec-27-03 03:40 PM
Response to Reply #6

7. only "managerial" levels

Technically, A-bands through the big folks up in E-band. Then again, these are the same folks who had their bonuses post-poned this year. AT&T does bonuses at the start of March every year. For 2003, A through E bands had to wait until September to receive anything. For us lowly techs, we'll still get a merit increase and bonus check....hopefully...

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ozymandius

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Sat Dec-27-03 01:56 PM
Response to Original message

3. not surprising

Considering that AT&T's stock has gotten hammered this year. The value is down nearly 25%.

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jburton

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Sat Dec-27-03 03:14 PM
Response to Original message

5. 2005? Yeah right!!!

As if their job is not going to be outsourced by then.

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