AT&T got rid of all dead wood about 10 years ago.
Since then, nothing but good people let go, because the business is in a decidedly decline accelerated by huge strategic errors (T-Mobile purchase failure costing $4B, DirecTV paid way too much for dying business, and now Warner brothers with a decaying library of content)....
Yet, the same executives who made these bad decisions, are still in charge. We are following GE's lead. Once great, down to near nothing.