My guess would be that budgets have been lowered, resulting in people being asked to take pay-cuts. Not all that unusual during restructuring. Many people will choose to test the waters of the job market instead. It's also possible that people near the top have been warned that positions will be eliminated in the future, which allows them to find another job and leave on their own. Sounds unfair but it's pretty common.
Studios will probably have to work with fewer employees from now on. Without knowing how much bloat or how many superfluous positions were on the roster originally, it's impossible to see what kind of impact this will have in the long run.
What we'll likely see is big names leaving, with junior staff members moving up to take their positions at less pay. Could be bad, could be good. We'll just have to wait and see which.
