Replacing the leadership of a failing company instead of firing the normal employees who had and have no influence on the decisions driving the companies would actually be a really good idea.
Instead they fired a whole bunch of people to better their finances in the short-term while damning the company in the long-term.
CEO what's-her-face and the other C-level parasites most likely are only trying to press as much money as they can from the company before either the company is completely run into the ground or they're fired.
And fired they should be.
WITHOUT golden parachutes.