Morale is the worst it has been in 20 years. A highly toxic stew of angst and desperation, which has degenerated exponentially since 2010.
While CCC does have a tendency to groom talented employees, unfortunately they never are able to retain that talent for themselves! They have either driven them away through attrition, or they lay them off.
Still, employees hired by the outgoing CTO might try to remain. It could taint the organization going forward unless something is done soon to terminate their employment, along with the outgoing CTO. All remnants of this CTO's regime should be expunged quickly, if the organization is ever to recover from what it has gone through. There is a chance that the outgoing CTO may take his locusts with him though to strip some other company, and these mass firings may not have to occur. We will have to wait and see.
I witnessed accounts (and heard accounts) where middle managers literally walked out without even giving the customary 2 weeks notice. This as a sign of extreme distress within the company.
It was very creepy and surreal to witness the CTO and his number one operate in a corporate setting. The CTO giggles uncontrollably, and often at inappropriate times. His number one has zero charisma, or negative charisma if that is even possible. Neither are cogent communicators, nor can they relay a plan to their managers that makes any sense to anyone. Overall, they demonstrate a very inappropriate executive presence, to put it as kindly as I can. I would find it highly improbable if I was in the minorty on this observation.