This is the time to accept that the path forward is keeping people and giving them the best tools you possibly can to do their work. That is, the same as has been true for decades remains so.
Yes, development tools are better every day. Yes, you can downsize. No it won’t be felt immediately. Yes, it mortgages the future and at a painfully high interest rate.
Suspending disbelief won’t make downsizing work better.