If it seems like the Execs are making short term decisions which will leave the company worse off in the end, it's because they are. But, it's not because they are stupid or don't know what even the new hire knows, it's because they know the current business model is about to be sc-apped.
The world is on the verge of some huge changes, some positive, some negative, and it all depends on where you find yourself in the current system. Now is a very bad time to be asleep at the wheel, assuming what has been will always be.
It won't, and those who are assuming it will, are about to get the shock of their lives. Layoffs are just scratching the surface.