No Bonus, No Salary Increase for AT&T CEO

19 Comments

AT&T (s T) CEO Randall Stephenson will not be taking a multimillion-dollar bonus this year. No, it’s not going to hurt that much — his bonus last year, about $4.5 million, was roughly 25 percent of his income — but from a symbolic standpoint, it’s the right thing to do. Like thousands of employees of his company, he won’t get a salary increase for the year, according to The Wall Street Journal. Details of his total compensation will be outlined in a forthcoming SEC filing. AT&T has been hurt by the weak economy and has announced that it will cut 4 percent — 12,000 jobs — of its workforce. (My post after a conversation with Randall last year.) (Photo Courtesy ZDNet/Dan Farber)

19 Comments

Oz

To those of you defending these high level officers I have this to say, They need a good team (employees) just as they need air. Don’t forget like in sports the best coach can’t win with a bunch of sorry players. No company can survive without good workers.

TheOne this is for you, there are many wise business men without a college degree, also plenty of well educated morons.

This guy gets almost $1000K a month, while we do the REAL work. Management might see themselves as the backbone of the company but the workers are the muscle. Without capable people the best of ideas can’t get off of the table.

I don’t care what he gets, I just hate to lose what I’ve worked for and was offered when I started with the company.

Anonymous

Mr. Randall Stephenson, CEO of AT&T, has quite a day ahead of him tomorrow.

Let’s get him ready by providing him with pizza tonight, courtesy of Anonymous.

3705 Gillon Ave
Dallas, TX 75205-3147

210-351-5401

TheOne

I’m curious, if these upper-level types didn’t get paid extra what would be the motivation for getting an MBA or working your tail off?

Some people around seem to be fine with accepting meager amounts of responsability and squeaking by in the middle class.

So you all are saying that people that go to school forever or work hard to get to the top of their company don’t deserve anything?

So we are forgoing capitalism in favor of communism in America? Good to know.

I think we all tend to imagine people like this get “handed” their jobs and there’s no stress involved. I can’t imagine laying off one person, let alone thousands. I think you all need to free yourself from ignorance. It’s amusingly funny but said at the same time.

Oh well, go back to slamming the “evil rich” whilst you ALL struggle to be rich. It’s not just ironic, it’s stupid.

sam

Let me tell you what your NOT being told. Yes he passes up a pay increase, and yes he took no “bonus.” Want to know what he got instead? would you believe me if i told you he was GIVEN 300,000 share of stock? well he was, then he sold them all for 3 to 4 million dollars the day befor he anounced he wasnt taking a bonus. What a great guy huh? I wish he would answer to that.

hazeleyes

Tamia: the concept of working is that the company purchases your hours for dollars. In that exchange, you agree to exchange eacg of your hours for a certain number of dollars. You agree. You are not coerced. The employer tells you what to do, how and when to do it. If you do not agree, you are free to leave and find another job.

Your jealousy and judgmentalness suggest that you may not be in the right place of employment, or what you are naive and not well informed about what the employer/employee relationship is. You need them, they can find thousands of willing others to work.

Tamia

No Jon sorry that is not right, i dont think it is fair that the we as workers are ones to maintain the company while the CEOs are ones to sit back and make the real money. Being an employee there i really dont think it is fair that while i am stressing each and every day to meet the standards to maintain my position at at&t for an hour especially the way the economy is right now it is ridiculous the amount they want to pay us. I mean come on really the CEOs would not have the cars they drive the houses they live in the trips they take or the vacation homes they got to to get away if it were not for me and all the other thousands of workers working to maintain the expectations at the at&t call centers. We deserve a fair pay rate!!!

john

Hes doing something noble by giving up a bonus that would now stay in his company’s pocket to keep it afloat during these troubling times. His money should not be dispersed to the workers because its not his job to pay his workers, his responsibility is to keep the company running. Sure, it would be nice to give his millions to the workers but that does nothing in keeping the company afloat especially with the way things are now. No company, no jobs. Its just the way it is. Yet, i noticed that is not good enough for most people. Next they want him to give away his stock options, next part of his salary, after that I’m pretty sure they would want him to take the clothes off his back and sell his belongings that’s in him and his FAMILIES possession. This is not a communist society America. He was not handed that money just because, most ceos earned their way through the ranks. As long as a ceo can keep his company running, amen to that, im sure the workers would be more than happy with that if they took time to think about it. As for the few ceos that accept bonuses and raises while running their company to the ground, changes need to be made. Or maybe even suggesting that they are not eligible for high ranking positions when the economy is up and running again.

Beth

Hopefully, Edward will read this. What kind of phone did your grandson have?
My daughter’s charging port is also broken and we were told by ATT that it was not covered, due to the fact that it was not a regular complaint with her phone.

Charles McCain

I’ll really believe that about the same time as the Secomd Coming. Thse crafty upper-level executives will figure a way to supplement their meager income.

Tania

Yet, he forgot to mention selling his share of stock he received as a sign in bonus, before he declined the bonus.

Don

We all like to hate the telcos, but let’s be real; they are NOT doing damage to the economy like the financial institutions have.

Dori

For us it means that a part of the income that we depend on to live, not just spend is not coming. We did not get this info in time to re-adjust. We are trying to stay afloat and this could sink the ship. Maybe the little people could share his bonus. I’m sure it would be larger than what my hubby with 30 years usually gets, about 1800.00.

Edward

Yea, and Att still refuses to repair/replace my grandsons cell phone Seems it was a refurbished phone but when he purchased it on line at Ft Gordon, Ga they did not tell him it only had a 30 day warranty. Now they will not repair it, the charger port is broken. Nor will they let himupgrade. Sweet AT&T

Charlie

Yes but they gave eachother stocks @ 0 cost worth millions! And gave the hard working employees 0 team award.
Oh yeh and at@t made a net profit of 12.87 billion… Yes billion!

charlie

awww, poor baby. how will he survive on only his 10M/year salary? there are programs out there for people down on their luck. he’s probably too proud to sign himself up so i took the liberty to fill out an application for him. randall, you should be getting your harvesters call any time now. CEO’s, ex-CEO’s and bod’s that compensate them can bite me.

Kris D

It is the right thing to do. All of this highpaid CEO’s should be doing this. Especialy those running companies into the ground or not showing profit.

Good for you Randall Stephenson.

Rajbir D

It’s the right thing to do…. well that’s around 25% of his income, so he makes well over 12mil a year. He doesn’t even need a bonus, and it wouldn’t effect him if he decreased his salaries as well.

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