What is taking over my podocarpus??

My new hedge wasn’t looking so hot this weekend, but I attributed it to our heat wave. However, after closer inspection yesterday, I noticed that at the end of every single branch, right in the new growth, is a little nest (kind of cobweb-y) with either a small green worm/caterpillar or a brown chrysalis/cocoon. These little nests are killing all the new growth. What are these—maybe moths? And can my plants be saved?

I already tried insecticidal soap last night, but there were still many living worms today.