Thread regarding American Electric Power Co. Inc. layoffs

If the OpCos decide to go outside for engineering services amd service contracts, it’ll be on them if there’s any cost overruns. Makes it ripe for under the table type of agreements. Thoughts?

I wish people would ki-l the partisan BS and realize something. If you weren't so busy picking a side, you could think for yourself. Country over party. Things are turning very un-American and the Constitution has become toilet paper. You joined a team to harden your identity and make yourself feel better, and burned everything your ancestors fought against in the process. Independent voter here. Midterms are coming. The oligarchy will not be pleased after that. Now, take your political silliness somewhere else, or go buy some cult swag or something.

@38p7 I'm happy with political HB6 style bribes that were needed to contend with ESG/DEI type regulations where you had to get permits from the EPA for purple-haired cross-frogged non-binary permission from a native tribe to build a power line. It's all coming from the same taxpayers.

What I have noticed about AEP republicans, which I am one. They see things and somehow have convienced themselves that the things that are occuring or have occured within the company are not bad. The company is big with DEI. Dont deny it. The company is big on neopotism, it exists, you have seen or maybe practiced it. It is still wrong, dont deny it. The company does not promote the most qualified, they lack merit and play favorites, this is wrong dont deny it. The company has participated in fraud with Ohio state leaders. This is known to be true. If you really want to be a better company, better country, better republican party, start by looking at yourselves and your own denial and start some accoubtabilty. Live like Charlie Kirk statex instead of doings things that make you feel good, do good. Be better.

Uh oh. Signal chats are leaking from Minneapolis Berners. Antifa cranks doing the whole resistance thing in our company should be worried about their own little chats. Hopefully getting jailed next.

@386q
It doesn't matter. No one gets to work until 68 now anyway. Having 20 years and gray hair is a liability that paints a target on your back now. The number of people over 60 here is critical and dropping, and if you're a manager forget it. They're coming for you well before that. I don't think these kids will ever get anything like the career path we had.

@38bg I would have never thought of it that way and my perspective has changed. The shareholders are proud of tea steeper.

@38b6 I think he's just pointing out, don't stay just for the company. But your right, some people have a hard time letting go. Me I'm out of here and never looking back when I retire. Or leave

@386q When I'm 70+ and retired from AEP I'm not going to be on the layoff board. I'm going to be steeping my teabag in some honey in the Congo and itching my anoose by scooting on the floor. Why come back here?

@386q virtue signaling on an anonymous form is some different behavior

@387s I have never given a dime to the PAC. After HB6 mess, I can sleep at night knowing I had nothing to do with it. Can Nick?

@386q AEP is becoming a private equity firm masquerading as a regulated electric utility monopoly that corrupts its regulators and our legislators to increase CEO and major shareholder value. Have you given generously to AEP's PAC so they can further oppress and exploit their stakeholders?

@385j I'm not sure I would have worked until I was 68 again in this environment. Having been retired for several years now, I thought staying well past my needed points (well over a 100 pts) its been clear the company would treat me differently today than just a few years ago. It all goes back to Bill, I'm glad that I left under Nick but even his last few years were different than his first few years. I did not have the "pleasure" of being around for Julia but I did see her as a DEI hire and I think that was part of Nick's transition to being a man more focused on the optics than the actual need of the company.
Being retired I have no skin in the game but I am a shareholder so I am "happy" with the higher share price but I'm also conflicted with "at what cost"! I will most likely sell all of my shares this year so I can sleep better, knowing I'm not involved with Bill and his quest for turning the company into something unrecognizable from the past.

To the lineman, stay safe, take your time, rushing causes the loss of focus, loss of focus results in getting yourself or someone else hurt or worse.

AEP has become a negative sum investment for stakeholders and many are looking for better ROIs: work life balance, better work environment, compassionate and empathetic leadership and career opportunities based on proficiency, work ethic and talent not butt kissing, yes manning and no threat to their superiors' career progression. The promotion of servile, fawning incompetence is the very reason why we are doing the work of three employees for the salary and benefits of 2/3s of an employee.

Inflation has significantly eroded the purchasing power of a $100,000 annual income, with high inflation between 2020 and 2024 reducing its real value to roughly $80,000–$85,000 in 2020 purchasing power, according to Dynamic Tax & Accounting Services and Yahoo Finance. Roughly 19% cumulative inflation from 2020 to 2024 means $100,000 now requires about $119,000 to maintain the same standard of living.
Key Impacts of Inflation on $100,000 Income:

Purchasing Power Reduction: A $100,000 salary from 2020 has lost approximately 19% of its value by 2024, meaning it feels like roughly $81,000 in 2020 dollars.

Significant Erosion Over Time: According to In2013Dollars, $100,000 in 2015 would require over $132,000 in 2024 to have the same buying power.

Cost of Living Increases: The same $100,000 income cannot afford the same housing, food, and services it did five years ago, as exemplified by rising median home prices from $322,000 in 2020 to over $417,000 by 2025.

Long-Term Impact: Over longer periods, such as 30 years, a 3% annual inflation rate can erode nearly 60% of an asset's purchasing power, notes Hills Bank.

As a result, the "six-figure" salary, once a significant benchmark of wealth, now offers a reduced standard of living in many areas, requiring individuals to adapt by focusing on intentional spending or relocating to lower-cost areas.

Doing the work of three employees for significantly less income. Stress aging employees at a significantly accelerated rate. I wondering if corporate America is deliberately trying to lower the life expectancy of older employees to cut retirement obligations and the need to fix Social Security.

I'm wondering if corporate is getting a lot of push back with costs when presenting requests before the PUCs. I know years ago, rate increases treated costs at the SC lev different than those at the OPCO level. Anyone on this board working on rate requests, can you chime in?
I don't, closest thing I have to worry about is my time sheet codes are correct, which 20% are not. Have to change a few items each week to make it look like I actually did what I said I did but I still end up working on stuff I'm not supposed to but I do it anyway because no one else will. If I don't do it, customers suffer but mgmt doesn't care.
Will see how much they care after this storm hits

@3787 I just ignore him. Usually don't get through the first sentence before I scroll to the next post. You are right, there does seem to more to it than just wanting to spout off so stupid cr-p that came out of his brain matter.
Ignore and move on.

Has there been any communication on which service corp groups are under consideration to be repositioned into the OPCO’s or dissolved completely? Doesn’t take a genius to understand the rationale for this type of restructure. But it seems odd that these vague rumors are getting leaked. Why not either provide more clarity OR keep fully under wraps until actual decisions are ready to be made. I’m v low on the payroll so maybe I’m just out of the loop.

@37je this guy serious?

@37hp This is actually nerve wrecking! I don’t think the leaders of my space are being entirely forthright about it, but it seems like this could significantly impact roles and work demand for some folks that support shared services….or am I making a mountain out of a molehill here? Could people lose jobs if the decision is to move things to OpCo’s??

Making people so afraid of getting onto a report or list, to the point they avoid it however they can, does what, do you suppose, for compliance and reporting overall? Think about it. This is headed nowhere good.

EVPs are meeting with Opco presidents to justify the continued cost and existence of all shared service roles this month.

I think the political rant guy is a hired g-n deliberately set upon this board to destroy it and drive people away. This is a well-known subversive tactic that is used to disrupt and scatter discussion. This board used to be a lot more active and the focus was actually about AEP, now most people seem to have left because this guy has single-handedly destroyed the board here by spamming it with non-stop, unfocused, and superficial political rants. He has been doing this habitually for over a year now.

@372q Do you not have coworkers you can ask about stuff like raises and PIP policies? Why trust people on the internet? Expect 2 to 3.5% raise

@36w5 what are you talking about? Do you even understand how regulated utilities work?

What’s the typical performance pay increase structure for salary? 3-5%?

When electric utilities adopt a major shareholder centric emphasis on value they are no longer the generous contributors to state's economies they once were and perhaps they should be stripped of all state and federal tax payer funded economic incentives since they are cutting jobs, wages and benefits. Wealth-fare is just more unnecessary malfeasance for the immensely wealthy, who are not in danger of missing a meal, struggling to keep a roof over their heads, or afford health insurance and prescription dr-gs. If electric utilities are going to invest less in the economies of the states they serve to further enrich out of state investors then the economic incentives offered to sustain jobs paying exceptional wages and benefits should cease to decrease the tax burden of state and federal tax payers being economically diminished to enrich major shareholders with state and federal tax payer funded wealth-fare.

The Alarming Statistics: Mental Health in the Utility Sector
Recent research has uncovered concerning trends regarding mental health among utility workers. According to a study, utility employees are the most likely to continue working despite experiencing mental illness, with nearly one-third (31%) having done so within the past year. This reluctance to take time off for mental health concerns points to potential stigma and inadequate support systems within the industry.

The same study revealed that a third (33%) of utility workers experienced increased anxiety over the previous year, while 26% reported excessive stress. These statistics highlight the urgent need for comprehensive mental health support strategies within utility companies.

Unhealthy Coping Mechanisms
Perhaps most concerning is how utility workers are managing their stress. The research found that 36% of utility employees are turning to unhealthy coping strategies, including increased consumption of unhealthy food and more frequent alcohol use. These behaviors can create cycles of deteriorating physical and mental health that impact both workplace performance and personal wellbeing.

New phish tests are crazy. Make sure you all supervise what your neighbor clicks every minute of the day or else you'll be a disappointment with no ICP. You party poopers.

@3697 The tangible value of the shear weight of our numbers is we know how to maintain and fix the institution. Top corporate officers only know how to exploit and break institutions to enrich themselves and their major shareholder peers.

Corporate America's top executives make up just 1.5% of the US adult population and their median total compensation for 2024 was around $17.1 - $18.9 million, up 7-9.7% from 2023. Julie Sloat (until Feb 2024) earning around $5.8M in 2023, while new CEO Bill Fehrman (appointed Aug 2024) took home approximately $13.26M for 2024. Not bad for working 5 months at AEP in 2024 . Something is horribly and unjustly wrong in Corporate America and the majority need to set things right because the executive minority cannot resist the shear weight of our numbers.

Still glad I left even with the changes. Stinks they finally recognized 8's deserve a bit more on the CIP side. BS it took them this long to see it. It still would not have kept there because Therace was such a witch. I have so much better managers now. Hopefully everyone that stayed is in a better situation than before.

Bill is the GOAT!! 🐐

Corporate America's lowest paid employees are its foundation and that foundation is failing under the massive load of Executive Compensation Packages and shareholder value. The structural integrity of any organization is its long tenure low paid employees, who make the company continue to function in spite of itself. Greed like erosion and water intrusion compromises the integrity of the foundation and unchecked causes complete structural failure. Engineers can validate the validity of this analysis. Long tenure low paid employees are the binding agent that counteracts the stressors that incrementally bring about catastrophic failure.

New episode of Bill 'n Phil on AEP Now.
Highlights -

• The "disappointments" section on the recent memo was meant for what leadership can do better, was just trying to be transparent.
• Bill discussed staying as CEO until at least Spring 2031.
• Bill projects 2025 ICP payout to be around 150%.
• We're up +1000 employee headcount YoY.
• Phil says 4% budget plan for 2026, 3.5% for merit and 0.5% for promotions and adjustments.
• Raising salary structure by 3%.
• SG8 employees' ICP target increasing to 12%.

I'm taking all my money out of my 401k and stocks from this company before it vanishes and investing it in some sue-molly-ins. Sorry Bill, no matter how perfect the power is you can't compete with their ROI.

Another day, another new SVP hired externally. The beatings will continue until morale improves.

@351j Thieves are thieves whether they are running Day Care Centers in Minnesota or Corporations across America. Republicans hate it when anyone else steals from vulnerable people before they can. Republicans whine about the national debt when they are in the minority because someone else is profiting from the deficit instead of them. We the People are always the ones paying for Republicans and Democrats' malfeasance. Its about time we took back what has been stolen from us by disingenuous usurpers of both political stripes.

Why be frustrated at Corporate America or working at AEP, my guy?
Instead of worrying about being laid off these last 6 years I could have opened a daycare center in MN and pocketed millions. You all are really still on your soap boxes about cronyism, nepotism, and Republicans?

Corporate America's Culture Crisis is turning an entire nation of American workers against the Corporate leadership of our nation. It is time to rid ourselves of an un-necessary minority of prosperity draining charity cases.