Companies need to evolve or they die. One of the painful truths many of us need to face is that the jobs we did yesterday are not as valuable as they are today. It's important to reskill and be ready to pivot in your career.
These (former) editors are all very aware that the advertising rivers of gold are finished - destroyed by Google, Facebook etc.. It isn't hard to do the math that if the role of editorial is to create content, and content no longer makes money, then the role of editorial needs to change. The world owes nothing to any of us.
Take an objective look at your career and ask how you can be indispensable. If the answer is that you aren't indispensable then don't be surprised when the company sacks you. And by "don't be surprised" I mean "be ready for your next move".