Absolutely.
These "hatchett men" come in and make the hard moves no one in the company wants to make and then leave after all is done with $$$$millions in their pockets and none in ours. I know from personal experience. I've been caught in downsizing at GE (1991) and Texas Insturments (1982) and left two other medium sized companies before the cuts.
I do not like the type of individual who works that way - no caring for the community, but I realize there is a demand for it.
For me, as a stock holder, the employees are the most important assett to the company so I do not see cutting them out wholesale. BUT some people only worry about the value of their investments and the dividends they receive and not of the big picture. I've seen too many only worry about the next 3-6 months out. They are not even worried about next year much less 10 years down the road.
PRR would not have built the double track "Low Grade" in the early 1900's when they already had a 4-track mainline between Trenton and Harrisburg unless they were looking to the future.
Other railroads do the same (such as the Salt Lake Bridge that bypassed Promentory Summit).