Re: IT
Works with people, too.
I was brought in to down-size a company once. Took three months, but I finally got rid of 20% of the workforce, all in middle management (and nobody else). Company dropped from about 1000 people to about 800, with a good rise in productivity. Profits rose by almost triple the prior year's cost of keeping the middle management employed.
Easy way to start implementing this at your corporation: Get rid of any middle management that does nothing but fiddle about with Power Point and attend meetings. Then get rid of any middle management who complains about those cuts. That should get you into the 15% range or so, you're on your own for the rest.