AT&T saw a 1.27% increase following its announcement to provide billing credits to customers affected by a recent network outage. The outage, which occurred last week, disrupted services nationwide, prompting Chief Executive John Stankey to address the issue in a letter to employees.
Customer Reimbursement:
- Affected consumers and small-business customers will receive a credit for “essentially a full day of service.”
- A $5 credit will be applied to eligible accounts within two billing cycles.
- However, the one-time credit excludes AT&T business accounts and prepaid services like Cricket Wireless, though some options may be available to affected prepaid customers.
Financial Impact:
- Stankey assured that the cost of reimbursement is manageable and aligns with the company’s 2024 business objectives and financial guidance.
- AT&T attributed the outage to an “incorrect process” during the expansion of its wireless network.
Outage Details:
- The disruption, starting around 3 a.m. ET on Thursday, affected cellphones, smartwatches, and tablets running on AT&T’s network.
- Downdetector received over 1.5 million reports of service problems, with major metro areas like Houston, Chicago, Miami, and New York City experiencing issues.
- While AT&T did not disclose the number of affected customers, it serves over 90 million U.S. cellphone subscribers.
Response and Apology:
- Stankey acknowledged the outage and apologized, noting that it wasn’t the company’s first and likely not the last.
- He emphasized the importance of the company’s reaction, adaptation, and improvement to meet customer expectations in the face of such challenges.
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