By AT&T Inc.’s chief executive issued an apology on Sunday for a recent nationwide service outage that impacted many of its wireless customers. CEO John Stankey referred to last Thursday as a “challenging day” due to the extended outage.
Apology and Explanation
In a letter to employees, Stankey expressed his remorse for failing customers and acknowledged the inconvenience caused. While initial concerns pointed towards a potential cyber attack, the company later clarified that a software update was the root cause of the issue.
Impact and Resolution
Although the specific extent of the outage was not detailed, approximately 25% of AT&T’s customers experienced network connectivity issues from 6 a.m. Eastern time. Service was eventually fully restored by early afternoon. As a gesture of goodwill, affected consumer and small-business customers will receive an automatic account credit for a full day of service to make up for the disruption.
Future Steps
Stankey mentioned that solutions for pre-paid, mid-market, and enterprise customers are currently in progress. He emphasized that providing compensation is the right course of action, and it aligns with the company’s financial plans.
Financial Performance
AT&T stock performance has been relatively stable, without significant gains or losses compared to market indices like the S&P 500. The company’s focus remains on addressing customer grievances and ensuring consistent service in the future.
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