Step 1: Analyze the board’s reaction.
The board appreciates the strategy for improving financial health, so their reaction is positive. Words like "applauded," "supported," and "lauded" express approval. "Applauded" conveys strong praise fitting here.
Step 2: Analyze the employees’ reaction.
Employees face layoffs and reduced benefits, so their reaction is negative. Words like "criticized," "denounced," and "opposed" show disapproval. "Denounced" is a strong negative term meaning publicly condemned.