A lot of these companies chase short term gains to look good on their quarterly report. These CEOs were most likely lauded when they presented the lowered costs on that quarterly and most likely got some fat bonuses out of it too. Now that the chickens have come to roost they are scrambling but they can still get away by blaming it on other shit. Even if they do get removed they already made their money through those bonuses and they can find a different position where to fail upwards.