The company has been laying off a significant number of experienced employees, from top executives to entry-level staff, without considering their value to the company's success. They are eliminating positions held by people with expertise in products, customer relationships, knowledge of the business and customer base, company culture, and team members, leaving a void that is sometimes filled by external hires with little knowledge, which has resulted in the company's decline.
The only possible reason for the company to take such a self-destructive approach is to improve its financial situation for yet another potential sale. It appears that another round of layoffs is expected at the end of the month, and some employees including myself are hoping to be offered a severance package instead of quitting on their own. "Quiet Quitting" seems to be the new approach for many employees.