Exodus started off with good intentions and good values, but over the years, the management became more and more disconnected from the rest of the company.
No diversity in managerial positions: despite having a majority-international team, most the new managers and directors that were hired following the growth phase were from the US. Furthermore, most of those key new managers and directors were hired without being culture fits at the time. I can attest to that because I've been involved in hiring of new directors and I've been ordered to disregard my concerns about the matter at the time.
Poor culture: the management and executives became increasingly immune to feedback, turning a blind eye even on serious reports of a toxic work environment developing in departments headed by some of those new directors. It took them about a year in some cases to get rid of those directors after multiple top performers quit the company and subsequent failures by those directors to deliver. This culminated in a total disconnect between the people at the top and the rest. The corporate culture became whatever people at the top decided it to be. Some of the core values, like transparency, became nothing more than words on virtual paper, and the company has been run almost to the ground.
JP (CEO) was alerted about these things on multiple occasions by multiple people. The layoffs and the overall current state of the company were perfectly preventable and avoidable if he truly listened to feedback and walked the walk when it comes to Exodus' values. Instead, a lot of people who believed in the mission and wanted Exodus to succeed paid the price, having been laid off in the worst possible way.