Seems to be an offshoot of "The Peter Principle" whereby managers rise to the level of their own incompetence.
It's been my observation that such morons usually target talented underlings for downsizing under some incredible theory that having an incompetent staff will make themselves appear even more intelligent.
It truly is a bizarre phenomena!
Managers have learned that it's better to have 100 idiots working for them than one genius. A manager's "under time" is then spent looking busy in managing the idiots. Besides, the genius may be such a good worker that people start to wonder why there's a manager there in the first place.