If true, talk about incompetent management. If you need to slim down, ideally you'd want to identify the people and groups that can be laid off with least overall damage and do it all in one shot. "Layoffs by RTO" is a great way to have your best, most-employable staff trickle out over a period of months - constantly reminding anyone left behind that they're stuck working under a bunch of ding-a-lings so they might decide to leave next.
How is Bobby still getting paid "the big bucks" to run ActivisionBlizzard this way?