I think they mean something like this: if there is a board of a company that is made up of all white, cis, hetero men, and the board wants to become more diverse, some of those men will need to go. In other words, in order for there to be equity and all of us to have privlidge, some people who have enjoyed power and privilege will need to step aside. That said, they should not "loose" or "give up" their privlidge, what they are ultimately giving up is power/privlidge OVER others. And instead learning to be happy in a world where we all share privlidge equally. Which to some may FEEL like giving up privlidge but is actually just leveling things out.