Could also indicate some concern about the opposite: the article mentions it was the Xbox Ecosystem Group that saw the most layoffs and I can't be certain but based on the name alone it sounds like the group in charge of things in the larger ecosystem like Xbox on Mobile (the iOS/Android/Switch efforts). It's possible if they weren't certain about the Activision Blizzard acquisition that they might want to focus less overall on non-Xbox Xbox experiences to keep competitive with Sony exclusives.
Of course, this is all just armchair tea leaf reading, so I have no idea, but it certainly seems like it could read either way about their expectations of that acquisition, depending on how you want to spin the narrative.