Companies also hire outside human resources consultants to help them advise on layoffs / restructuring. The outside company does not have any feelings on who stays and who goes.Some of those executives were making the decisions on which people to keep and which were to be laid off. That is a heavy weight to put on anyone, and especially so with a company that is entwined as Disney is. I know it feels cliche, but there were a lot of people with literally decades of friendship being made to break up their family.
In the end though, it's their job as an executive and its only fair that they got paid to do their job.