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AT&T CEO Randall Stephenson's total compensation was more than $32 million in 2019, giving him a 10 percent raise while he slashed tens of thousands of jobs and reduced spending on network upgrades. Stephenson's total compensation was $28.72 million in 2017, $29.12 million in 2018, and $32.03 million in 2019, an AT&T filing to the Securities and Exchange Commission said. His pay raise was driven by stock performance.
[...]But Stephenson's 2019 compensation rose "after a headline-grabbing hedge fund battle ended up boosting the telecom and media giant’s share price," The Wall Street Journal reported today. The 10 percent increase came "almost entirely on the strength of AT&T’s stock appreciation," as AT&T shares rose about 37 percent during 2019, the Journal article said.
[...]AT&T has been trying to reduce its debt load, which was $163.1 billion total and $151.3 billion in long-term debt at the end of 2019. Stephenson might not get another pay increase this year given the turmoil in stock markets that has sent AT&T tumbling in recent days. Stephenson is nearing retirement, but AT&T has said he will remain in the top role through all of 2020.
20,000 jobs cut assuming, $50,000 per year, is $1 billion dollars saved per year. Even if the CEO wanted to give all of his income to the workers, he would have saved about 3.2%, or 640, jobs this year. Sounds better if you just blame him for the 20,000 job cuts, though.
(Score: 5, Insightful) by Snotnose on Friday March 13 2020, @12:54AM (12 children)
Although that is a problem....
No, the problem is that $32 mil is his fucking bonus. They guy fucks over 20,000 people and gets more money than my father, mother, sisters, friend's families, and I will ever see in a lifetime for doing it. As a bonus, not his regular salary.
I completely understand why my grandkids support Bernie.
When the dust settled America realized it was saved by a porn star.
(Score: 5, Insightful) by Azuma Hazuki on Friday March 13 2020, @02:10AM (9 children)
If you had a lick of sense, you would too. The GOP wants to kill you. This is not an exaggeration. And Biden is a senile old corporatist puppet, which is to say, he's a figurehead being used by the same corporations who also want to kill you, albeit not quite so personally. Every single Republican and most of the Dems are going to burn like cheap, streaky bacon.
I am "that girl" your mother warned you about...
(Score: 0) by Anonymous Coward on Friday March 13 2020, @03:21AM (8 children)
So Biden is *worse* than Trump, then?
And we should make sure Trump is re-elected so he can continue "helping" us?
Is that your position?
(Score: 0, Funny) by Anonymous Coward on Friday March 13 2020, @05:15AM
Of course not, the choice is clear... Which is why I will be voting for Hillary!
(Score: 0) by Anonymous Coward on Friday March 13 2020, @06:23AM (1 child)
The thing with Biden is that he sucks the air out of the debate. Yes Trump's a douche but Biden's supposed to be my guy. Not my guy.
(Score: 0) by Anonymous Coward on Friday March 13 2020, @06:27AM
So a Biden presidency would be *worse* than a second Trump term?
Is that your position?
(Score: 4, Funny) by sjames on Friday March 13 2020, @07:23AM (3 children)
Worse, hardly. Choosing Biden is like choosing to be kicked squarely in the nuts. Trump is like being kicked squarely in the nuts until they fall off.
(Score: 2) by Freeman on Friday March 13 2020, @03:09PM (2 children)
So, your best defense for Biden is that he will be less worse in your opinion than Trump? I'm sure that'll convince a lot of people to vote Biden. The truth of the matter is, more people know who Trump is than Biden. Trump's celebrity status probably still wins him a number of votes, just because he was that real-estate show guy or whatever.
Better the devil you know, than the devil you don't.
Joshua 1:9 "Be strong and of a good courage; be not afraid, neither be thou dismayed: for the Lord thy God is with thee"
(Score: 2) by DeathMonkey on Friday March 13 2020, @05:41PM
All humans are bad to varying degrees.
It will always be the case that one person will be less bad than another.
(Score: 2) by sjames on Friday March 13 2020, @08:15PM
Even more people know who Alfred E. Neuman is, but that doesn't mean he's going to win the election. I will admit to the occasional temptation to write him in.
(Score: 2) by Azuma Hazuki on Saturday March 14 2020, @12:19AM
At this point, frankly, my position is "I don't know yet who to vote for, but more and more it's looking like I should do the selfish thing and vote whatever way is most likely to give me just that little bit more time necessary to GTFO across the northern border and watch this shithole of a nation implode." So maybe I *will* end up flipping the lever for Biden, who knows? If I do, it will be for entirely selfish reasons, though.
I am "that girl" your mother warned you about...
(Score: 0) by Anonymous Coward on Friday March 13 2020, @01:27PM
The fact that people buy communist rhetoric in this day and age while actually believing it will do as stated is just as sad IMHO as the gutting of our future through decisions like in the article.
(Score: 2) by Freeman on Friday March 13 2020, @03:06PM
What is hard to comprehend about this statement? The $32 Million dollars in 2019 was his total compensation. I.E. that's how much he made from AT&T. His "raises" year over year were due to the increase in value of AT&T Stock. So, if you had stock in AT&T, you earned more as well.
What is interesting to me is that while saving $1 Billion dollars a year on salaries might help their bottom line. The fact is that they have over $163 Billion dollars worth of debt. That is a whole truck load of debt. Maybe they make plenty to pay that off in 10 years, I have no idea.
Here's hoping Starlink kicks AT&T, Verizon, T-Mo/Sprint, and Cable Co., et al. where it hurts.
Joshua 1:9 "Be strong and of a good courage; be not afraid, neither be thou dismayed: for the Lord thy God is with thee"