I recently did a contract at medium sized business with a large retail and online business that had a CFO and several accountants / bookkeepers. You're describing a situation where that CFO only needs two or three accountants and bookkeepers to run the business and would lay off two or three people.

It IS about headcount in a lot of cases.

Or they’d keep the same number of people and increase total value output. Businesses tend to like the idea of growth more than cost cutting after all.