@XSK, restructuring is the bigger picture here. Downsizing is just part of it. Merging divisions is restructuring, which may or may not lead to downsizing. The chiefs who dont get the highest dockets can be given lower positions, and some choose to quit. This is to make it more profitable or manage its business much better to meet its current needs especially with the prevailing market conditions. Fewer divisions/directorates will make the EXCOM leaner and more efficient, and actually improve the decision making process. And that is what Bob is trying to do so that Safcom can achieve its objectives.
What @ayde* is saying that all this is just cutting jobs so that the company can stay afloat due to reduced profits. Now you can see where I choose to disagree with him/her.
Luck is when Preparation meets Opportunity. ~ Lucius Annaeus Seneca