It is ALL about saving money/cutting expenses.
There is NO other option.
The revenue and profit drain each quarter HAS NOT STOPPED, so the critical thing to do is cut expenses, no matter what the impact.
Look at it this way - if your salary or hours at work (revenue) have been decreasing, you're going to cut everything you can (expenses) so you don't get evicted or have your car repossessed.
Yes, there will be negative impacts, like eating less quality but cheaper food, or stopping maintenance on your house or car, or cutting all extras like cable and gym membership. But you have to try and prevent the worse outcome (bankruptcy).
Xerox is doing the same thing. Cutting everything to the bone (IRIF's, rebadging, etc.) to prevent going out of business. Yes, there will be some negative effects, but it's the only option.