Please say more. Is the idea to get the blood-letting over with all at once?
However, proper reasoning while taking into account uncertainty is not so simple.
Let's do a thought experiment. Let's say you are the CEO and your estimate for the necessary layoff ranges between 2% and 11%. What to do? One and only one round of X% layoffs? What should X be? Or perhaps start with a round of 5% layoffs. The hope would be that the uncertainty decreases. Time passes. You might not need an additional round. Or if you do, it can be done more accurately.
This is not the exact link I was looking for but goes into it somewhat https://www.ycombinator.com/library/3Z-advice-for-companies-...