There are only two choices: Stay the course or full rebuild.
The only players with trade value are those that you want to build around in a retool.
The guys that you'd want to trade, the best that you'd get is some salary relief, and that's only if the team paid half or more of the contracts.
I don't have any answers, but if I were making the decisions I'd fire everyone and blow it up, hope that some of the players having bad years rebound next year and trade them too, if there is value to be had.