Cliché corporate leader herd mentality. In absence of leadership direction, do what everyone else is doing (and what the consultants recommend) including many rounds of layoffs and reorgs to simulate progress and achievement.

The problem is that multiple layoffs are terrible for morale and basically obliterate the motivation and mood of the remaining workers.

Reorgs are another common pattern of incompetent management that introduce chaos without bringing net positive value.

This is similar shit that happened in the '80's, '90's, and '00s and was captured culturally by Dilbert and Office Space.

Those who ignore the lessons of the past will make history rhyme once again.