It means management positions are being eliminated, but not specifically anybody losing their job. The jobs will likely be eliminated through attrition and retirements, much similar to the district consolidations, which do go into effect April 1, which are referenced in the post below. There are not as many people as you would believe in a "Region" office these days and I am in agreement with Hoax that we will eventually eliminate the need for Regions, most likely after D. Scott retires.
This is the district consolidations (Central Cal, Gulf South, New Jersey), not the Region Consolidation that is going into place April 1st.