Not just T but corporate America in general is going to start feeling the prolonged effects of the pandemic and start slashing jobs heavily in Q1, just watch and listen to earnings reports at the end of this month.
T debt position is going to weaken as revenue projections keep getting pushed back, HBOMax has been a flop and so inevitably cuts are coming next year, post election cycle when there's more chance large stimulus packages will be passed (hint it's easier to layoff folks when the government covers them on their dime).