Here are the facts, folks; Zenimax wasn't doing so well before MS's purchase (in short... it was never about MS retaining Zenimax devs, only Zenimax's IPs)... Ninja Theory wasted a lot of money... uhm... developing (vacationing) in Iceland, ect. for Hellblade 2 just for NT to yield one of the shortest & over budget AAA gaming stories in the history of gaming, Redfall huge flop... on & on of wasteful spending and poor performances from many of these titles... for years.
Many of these laid off (fired) devs had plenty of time to get it right after MS's acquisitions... but, instead, many devs got comfortable & relied on MS deep-pockets and with that, many of those devs thought they had job security regardless if they were talented or not. WELP!