I don't really mind Lampard. I think he's getting to the stage in his career where he is going to be a rotation player. Granted he is on a fucket load of wages, but he is still decent on his day.
I wouldn't get rid of them all at the same time, but rather phase them out. The first three would be the ones I would be looking to replace sooner rather than later, and then the latter four phased out over the next 3 seasons or so, depending on Essiens fitness. Ferreira is a good enough back up, and he can't be on massive wages, if he is, then they might as well ship him out also. Kalou is plain awful, and I am surprised he hasn't been sold already to be honest.
If you look at it, they could have a team of:
-------------Courtois--------
Ivanovic - Cahill - Luiz - Cole-
--------------Mikel ----------
-------Ramires ----Miereles--
Sturridge --------------- Mata
-----------Torres------------
So it's a pretty decent team, obviously they wouldn't be able to have it this season, because Courtois is still away, but they could replace Cech (who has been shaky this season) in the summer with him. The bench would consist of Lukaku/Bertrand/McEachran/Lampard/Ferreira + players they could sign in the summer to back up the first team or drop Luiz/Cahill to the bench and bring in a dominating CB, someone like Dede from Vasco who is young, good in the air and on the floor and quick. Also quite tall. Basically they need a younger quicker John Terry, and I don't think that's Cahill. Maybe even Samba would do a good job for them, he is only 27 (or 28) and is obviously settled in the Prem. If Blackburn go down, I imagine he would be pretty cheap (10-15m max).
On the attacking front, you would hope that front three would get you some goals, and you would have Lukaku to (hopefully) grow into a Drogba-esc role in the future.