And he is getting a handsome reward for his job-killing reign: $247,000 a month for life.
“Company filings show that the departing chairman and CEO is retiring with a staggering pension account worth $64 million — enough, according to industry data, to provide the 59-year old with a guaranteed income of $274,000 a month for the rest of his days.
How’s your 401(k) doing?
Stephenson even got a $1.2 million company matching contribution to his “deferral plans” last year. He also holds at least $20 million in stock and options in the company. His total compensation for the last three years averaged $30 million a year.
AT&T declined to comment beyond confirming the numbers.
Awkwardly, Stephenson recently warned that AT&T’s 250,000 world-wide employees could face layoffs due to the coronavirus crisis. Details haven’t been announced. Nor have any severance terms.”
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