Sometimes it is not done to save money. At my previous workplace we had a new CEO come in 4 years ago.

1st. She trashed talked what was done before.

2nd. she took away any coffee or tea provided for employees to use, saying it cost $10000 a year to provide them.

3rd. Then she got a plan for a complete renovation of the office space, so executive officers had offices in the middle of the building that looked out over what would be open plan offices, so that no-one had the slightest bit of privacy at all. This was not done to fit more people in.

4th. Then a move to a completely different state in the country was being talked about.

I am glad I don't work there any more.

Edit: Formatting.