India, Dec. 16 -- AT&T CEO John Stankey has acknowledged missteps in addressing the company's culture, offering fresh insight into a memo to employees that went viral earlier this year.

The memo, outlined AT&T's move towards a "more market-based culture," prompting discussion about workplace loyalty and expectations. Stankey explained the reasoning behind the message during the Wall Street Journal CEO Council Summit, as per a report by Business Insider.

Asked to reflect on mistakes, Stankey admitted he had been too slow in prioritising the necessary cultural changes. He noted that while the evolution of company culture was one of several priorities, he should have placed it at the forefront and implemented decisive actions sooner.

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