Public shareholders have absolutely no loyalty to any company they extract wealth from, and they can move their capital elsewhere in seconds. And CxO/execs are typically awarded bonuses on share price movements.

So any action that moves the needle on the share price is a good thing. If this has bad long-term consequences, CxO/execs can always try to bail if they see incoming. They don't always succeed, but they have a fair chance. Employees are more likely to be left without lifeboats in the sinking ship.