Absent all other information like sales figures, customer relationships, etc. If the 2 chuckleheads get fired then the boss is saying that being friends is more important than being a good worker. It doesn’t matter WHY they’re being fired or if they have permanantly injured the working relationship with Geoff. The perception will be that unless the boss likes you - watch out!
Not to mention the perception that all employees are on-call 24/7 to service the boss’s ego even when they are away from work.