This is absolutely true. Shame on those CXO's and Exec's if they even take a single penny as bonus by stealing bread of innocent people and ruining their Christmas Holidays. Grow a Spine CXO's including the CEO's and VP's.
Managers are way too micro managing and they just got rid of the best talent and top performers from different groups as some of them felt threatened by people who had better knowledge ,expertise to even take over their Managers job.
The new CTO,Exec's lacks basic business and technical sense both. Stop resorting to layoffs and try to fix your Procurement process, retain good talent and train them if needed for them to be able to perform effectively than spending huge amounts on Vendor's. Empower your own people and give them the flexibility and freedom than micro managing them and shutting them down when they try to give valuable suggestions.