The reason this is happening is ego fed greed. Some exceptionally highly paid id–ts decided to make a name for themselves and drive a very profitable but stodgy company into more debt than any company in history.
These same id–ts walk away with piles of cash and laugh all the way to the bank. They leave the company vulnerable to a greedy shark like Elliott Management that could care less about the employees. And the current execs don't care about the employees either.
The new guy talks about pushing fiber but the existing footprint is tiny. Need lost of capex to expand it.
They pull the valuable media properties back to a few ill defined media platforms restricting the number of people that can see them and restrict the revenue they can generate.
But we have 5G! Well, the low band won't have the high throughput. Midband and millimeter will require a lot of capex to build out and fiber to feed the towers.
Oops.
If you get canned 7/10, you are really are one of the lucky ones. This will continue for at least 3 more years. Get out now and find your next job 'cause T doesn't care about you! These execs are the most tone deaf bunch of mo–ns I've ever seen. It will be a complete and total accident if their plan works. You just can't cut employees and sell enough real estate to pay off this debt.
And you can bet the T-Mobile and Verizon sharks are circling the severely wounded T carcass and getting ready to pounce. It's going to get ugly and T isn't ready for a war. Too much debt, high dividend, high capex needs, and Elliott wants his blood money.
And yes, I'm getting canned tomorrow.