The reason they are cutting 60 fighters has more to do with the that roster is just to large. They have to offer fighters 3 fights year. You only have so many spots. That is where the majority of the cuts are coming from, guys you barely or never heard of.
Letting go of Yoel for example(and some other names) is nothing more than he has ran his course through the UFC, age, and probably have got what they can out of him for what his pay demands.
P.S.: UFC has been doing this forever. It's also part of how they make other orgs fail indirectly. Gifting high salary named guys who show low return to orgs like the Bellator's of the world. For some of those orgs to sign a guy who is getting paid six figures a fight it sticks out bright red in the books when you go through your numbers for that event. If those guys aren't pulling higher gate numbers and ratings it's hard pill to swallow and justify the pay, over time it adds up especially when you get multiple guys on your roster like that. That is a big part of why Strikeforce went under. The product cost began to well outpace the return. For second tier and below MMA orgs a lot of those cost are in fighter pay.