Not so much talk as the fact that Cordingley and Thorn's fate are pretty closely linked. Cordingley has been General Manager of Rugby Operations (or something like that) since 2014, and has been one of Thorn's strongest supporters. He's also heavily involved in player contracting and I think carries much of the baggage around the breakdown of relationship with Picone. He's also been not so well regarded by some at Rugby Australia, though I'm not sure how many of those are still there/will be into this year. Possibly one could go without the other, but that looks pretty unlikely at this stage, at least if it's a sacking. It could be that the departures a separated by a year or so though.
The flip side is a strong season from the Reds is entirely possible (I think a lot of people are underestimating them) and that could see Thorn renewed for a few more years, committing to the long term planning they've been working towards. The main decision point for that is probably going to be making the semi finals, though there will probably be some important key indicators/milestones along the way (home wins, beating a kiwi side, etc.).
Foote's path to retention is harder I think, the Rebels will probably need to make the finals or at least be in contention right up until the end of the season. An improved Drua and/or Moana could make that a hard path for them, particularly given the way they look to be affected by squad changes, injuries and wallaby rest. Certainly I think the Rebels will be keen to move on quickly and snap up an experienced coach if there is one like Friend available to them.