Let's take a look at the last month here, shall we?
First there was the announcement that the current CEO would be retiring after leading the company into record debt and astounding underperformance. During his tenure the company bought DIRECTV - the premier linear tv service in the nation - and destroyed it. They also bought Warner Media, and quickly saw an exodus of their top programming talent, particularly from HBO. As a reward for his sub-standard work, the CEO was handed a very generous severance, and a guaranteed pension of almost $250K per month for life.
Next, there was a ton of hype about the launch of HBO Max, with our handsome and charismatic CEO-in-waiting commenting that since he knows more about television than anyone, only an id–t wouldn't accept this service, despite it costing more than any other streaming service and not being available on two of the largest streaming platforms (Roku and Amazon). On top of that, it turns out that customers are confused by the service (what about HBO Go? Or HBO Now?), and the actual interface is clumsy and lame. The release is a dud, consumers are unimpressed, and reviews are horrible.
Very shortly after this "game changing" release, the second in command uses an "all hands" video meeting to tell employees that there will be substantial layoffs very soon, and that there will not be plans to re-hire in different positions. He says this with a smile, and a gleeful expression - since he knows he won't be affected. He also mentions that more information will come soon.
Two weeks after this announcement, there has been absolutely no follow-up between senior management and the workers about this, and no new information. This leaves employees nervous, worried, stressed out, frightened, and angry. Morale, which was already low (because of screwups like HBO Max) plummets. People don't care about their work and instead are sending out their resumes.
Honestly, it's like some business school has infiltrated AT&T to use it as an example of incompetence and greed. I mean, Dunder Mifflin was better managed than we are.