Layoffs time: move quickly and break people.
If it's likely you'll need layoffs, it's probably best to move as quickly as possible. Otherwise gossip, speculation, and fear have the chance to dominate.
Facebook would then change their motto in 2014 to "move fast with stable infrastructure" [0] - don't know how well that's worked out for them since.
[0] https://en.wikipedia.org/wiki/Meta_Platforms#cite_ref-43