> The company said there will be a “two-week cooling off period” before anyone can reconvene a canceled meeting.
The company isn't saying no recurring meetings. It is saying, "hey, we have too many meetings, let's do a reset and think carefully about which ones we really need... and by the way, it's okay to decline a meeting that you don't think you'll gain value from.
I personally think that an occasional reset to figure out which meetings are actually necessary is a good idea. Also, sometimes there are personal/political reasons for joining meetings that you aren't going to get much out of. Having the top management say "try to cut down on unnecessary meetings" is a good way to give individual employees cover.