Latest news with #John Stankey
Daily Mail
5 days ago
- Business
- Daily Mail
Wall Street bosses go hardcore with ultimatum to pampered staff that's been a long time coming
Top bosses are clawing back control — and AT&T CEO John Stankey is the latest to make that crystal clear. In a fiery internal memo, Stankey declared the end of cushy perks and leniency for remote workers, telling cosseted employees it's time to step up — or step aside. The 62-year-old made it clear he doesn't want staff who expect rewards simply for being loyal, following the rules, or sticking around. Instead, he said AT&T is moving toward a 'market-based culture,' where pay and job security are based on merit, performance, and impact — not tenure or compliance. 'We have consciously shifted away from some of these elements and towards a more market-based culture — focused on rewarding capability, contribution, and commitment,' he wrote, according to Business Insider. His comments followed a recent internal survey that fell short of expectations. While 73 percent of employees participated, only 79 percent expressed strong commitment to their work — not enough to impress the CEO. 'If you are of the small minority that shared comments similar to, 'I've heard this nonsense before and I'll ignore things until this goes away…' there might be a disconnect between you and your current professional choice,' he warned The memo comes seven months after AT&T implemented a five-day in-office policy, one of the toughest return-to-office stances in corporate America. AT&T's services are undergoing technology innovations, including adding millions of American customers to faster fiber-optic and satellite-driven internet connections. The company is spending top dollar to get ahead of other internet service providers, such as Elon Musk's Starlink. Stankey said staffers need to get on board to be a part of those changes. 'We run a dynamic, customer-facing business, tackling large-scale, challenging initiatives,' he told workers. 'If the requirements dictated by this dynamic do not align to your personal desires, you have every right to find a career opportunity that is suitable to your aspirations and needs.' Full-time employees — including sales representatives, team leaders, associate directors, and financial analysts — earn a range from $62,000 to $299,000 from the company's Dallas headquarters. 'We are letting the email speak for itself,' an AT&T spokesperson said in response to the Daily Mail's request for comment. Stankey joins a growing list of Wall Street executives who have shocked their cocooned employees out of stasis and back into the office. In a letter to his employees, AT&T's top boss said he was disappointed in the recent results of an employee survey It marks a major shift for workers. In the years following the pandemic, job seekers had considerable leeway as supply chains dusted off the cobwebs. Now, as AI puts job security on shakier ground and American employers slow hiring, bosses are gaining more power. And they're using it to get employees back in their headquarters. In September, the new Starbucks CEO, Brian Niccol, will require all corporate employees to come into the office four days a week. The coffee chain only requires three days of in-office work from its managerial staff. TD Bank will marshal its staff back into the office for four days each week, starting in November. In March, JPMorgan Chase CEO Jamie Dimon mandated workers to return to the company's Park Avenue headquarters in New York City. 'If you work in a restaurant, you've got to be in. You all may not know this, but 60 percent of Americans worked the whole time,' Dimon said when asked about his stance on office work. 'It's only these people in the middle who complain a lot about it.'
Entrepreneur
6 days ago
- Business
- Entrepreneur
AT&T CEO to Employees: Embrace RTO or Move On
In a memo to employees, AT&T CEO John Stankey made it clear that the company's future will not include remote-first flexibility — and those resisting the change may need to move on. AT&T CEO John Stankey is standing firm on the company's strict in-person work policies — and says employees who aren't aligned with the direction of the company might want to reconsider their roles. In a memo obtained by Business Insider and sent to employees last week following AT&T's latest internal survey, Stankey acknowledged declining engagement scores and growing employee frustration amid sweeping operational changes. But he made clear the company has no plans to reverse course. Related: AT&T and Sweetgreen Are Following Amazon's Lead With Stricter Return-to-Office Mandates — Though Amazon's Plan Has Hit a Snag "We have consciously shifted away from some of these elements and towards a more market-based culture — focused on rewarding capability, contribution and commitment," Stankey wrote. "We believe this is the only way to succeed in the dynamic, technologically driven markets where we operate." He called out a small group of employees who expressed resistance to those changes, writing: "If a self-directed, virtual, or hybrid work schedule is essential for you to manage your career aspirations and life challenges, you will have a difficult time aligning your priorities with those of the company and the culture we aim to establish." The comments come as AT&T continues to consolidate employees into a limited number of "hub" offices, requiring many to work in-person five days a week. Some workers have criticized the changes as disruptive or unfair, but Stankey defended the move as necessary for collaboration and career development. Related: What My First Failed Startup Taught Me — and How I Finally Got It Right 20 Years Later "Our shift to hub locations was a pivotal step to more effectively achieve this goal," he wrote. "Concentrations of employees enables the teamwork, mentorship, and visibility that, when combined with performance and contribution, can better equip you to advance your career." Stankey urged employees to embrace the company's evolving culture and take personal accountability for adapting. "Commit to adjusting your own behaviors and actions without looking to your right or left (or above) to see what everybody else is doing," he said. "Please jump in and avoid the human tendency to blame the neighbors for the problems in the neighborhood!" Related: Emma Grede Dropped Out of School at 16. Now the Skims Boss Runs a $4 Billion Empire — Here's How. AT&T is far from alone in facing pushback over return-to-office (RTO) mandates. Amazon required employees to return to offices at least three days per week, only to face internal complaints over overcrowded buildings and a lack of available desks. And JPMorgan CEO Jamie Dimon dismissed worker resistance, saying complaints about RTO mostly come "from the middle," not top performers. AT&T rival Verizon also reportedly attempted to capitalize on the company's RTO policy earlier this year by recruiting AT&T employees to Verizon, touting hybrid and remote work schedules. Related: This Franchise Gives Veterans a $40,000 Head Start to Build Generational Wealth — No Fee Required Stankey also touched on company efforts to improve tools, career growth and employee wellbeing — and stressed that while leadership plays a role, real change starts with individual responsibility. "Our collective success also depends on each of us taking ownership where we can," he wrote. "Rather than waiting for others to act, I encourage everyone to share their ideas and take initiative." Join top CEOs, founders and operators at the Level Up conference to unlock strategies for scaling your business, boosting revenue and building sustainable success.
