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First thing I would do is check to see if there's a corresponding drop in performance. Sometimes rating changes are a reflection of changes throughout the league/world and not necessarily changes in a player's ability.
If you do find that most of the players who suffered rating drops are also now playing poorly, then I'd start to diagnose the problem. For me, I'd wait at least a couple more weeks before firing coaches. I'd probably first try tweeking some strategy settings and also taking a look at personality factors to see if the players are unhappy with team performance or anything like that.
And I'd also look to see if any players are at a level that's too difficult for them at that time. While a demotion can have a negative effect, the long-term benefit of playing better will usually outweigh it in the end.
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