I imagine it isn't stupidity. It allows the CEO to say "Not my idea to lay off all these grey hairs!" And then do a company wide meeting where they "lament the

I imagine it isn't stupidity. It allows the CEO to say "Not my idea to lay off all these grey hairs!" And then do a company wide meeting where they "lament the loss of so many of our wonderful colleagues." It was probably the CEO's idea or at least approved directly by then, but that one level of separation helps a lot.