This is what happens when you let the accountants run the business.
First the research goes. Then the product engineering drops. Then there's mass layoffs. Then the whole thing falls apart.
To an accountant, a drop in costs is as valuable to the business as a rise in revenue. To everyone else, this is obviously not true. Risking future profits to cut current costs is a great move according to an accountant. For everyone else, it's corporate suicide.
Edit: I realise COVID. But that's the excuse, not the reason.
First the research goes. Then the product engineering drops. Then there's mass layoffs. Then the whole thing falls apart.
To an accountant, a drop in costs is as valuable to the business as a rise in revenue. To everyone else, this is obviously not true. Risking future profits to cut current costs is a great move according to an accountant. For everyone else, it's corporate suicide.
Edit: I realise COVID. But that's the excuse, not the reason.