I thought their press release of less than a week ago said those people were supposed to improve WebKit :-) Can imagine that quite a few of those fired would have been tough to motivate, though. Nobody likes seeing their lifework put out and shot.
Now it is obvious. Cost saving! Which is fine, just a bit disappointing. Especially considering how they have 3 products. Opera, Opera Mini and the new Tablet Browser (I don't know if this is replacing Mini)