That’s absolutely not what they said and either you can’t comprehend what someone writes, or you’re being deliberately obtuse.
slashing spend willy nilly with no regard to the consequences is not “making savings”. It may be, but it may also turn out to be counter productive and/or stupid (as some of the actions taken have already proven to be).
saying that does not mean there are no savings to be found, or that they should not be looked for. It’s just that care should be taken to ensure the benefit outweighs the cost. I see no such care being taken