Is it not possible for "proper" management, rather than mismanagement, to result in downsizing a bloated org that over-hired, or lowering compensation in an emp

Is it not possible for "proper" management, rather than mismanagement, to result in downsizing a bloated org that over-hired, or lowering compensation in an employee-friendly hiring environment where a bunch of senior employees where laid off across the industry? Both of those goals seek to lower costs, and goes counter to the interests of the union without being considered "mismanagement"