Lots of jobs can be cut without our even noticing any detriment in services.
Many fat-cat salaries need to be re-routed to other purposes. The true workers will keep their jobs.
There might be an improvement in services. If people fear for their jobs they will perform better.
Many of the jobs have become “home office day” jobs, IOW, No Show jobs. I personally know a few who spend their days antique shopping with their friends, golfing, visiting relatives, meeting friends for lunch, etc......while they are collecting a salary. They attend seminars and give the same canned power point presentation about every six months just to be visible in the right circles.