For some CIOs, the changing landscape forces them to act as a manager of a cost center of diminishing importance with a decreasing budget, narrowly focused on driving efficiencies and reducing costs. For others, it means unprecedented opportunity, increased salary, and a critical ascent into a more strategic leadership position for their organizations. In this eBook, we explore these changes and how CIOs can leverage their expertise to help their organizations succeed in the rapidly evolving landscape.
Here, we should analyze "diminishing importance" and "with a decreasing budget" as two separate modifiers. The cost center is becoming less important (diminishing importance), and it is also suffering from a smaller and smaller budget (decreasing budget). The sentence emphasizes that there are two negative effects of "the changing landscape" for some CIOs; the following sentence highlights the potential positive effects.