If subscriber forecasts are down, they should invest in projects to grow subscribers.
So of course the response to rational behavior anyone not in a boardroom can easily understand, is to lay off some of the people who aren't in the boardroom.
1: https://www.investopedia.com/should-disney-investors-be-wary...
Or people getting their black ships out of storage, hoisting the sails, and returning to sailing the high seas.