Someone just managing a team isn't really in any way "management". Usually would have very limited power for anything as a team leader. Lower than divisional leadership is often much more administrative than anything of "executive" function.
And, btw., things like delayering are fairly typical efficiency drives. So these "management" positions might not be that stable to start with.
What you say is true but doesn't help the working programmers, sadly.
I have once exclaimed to one team lead / project lead during a call with 20+ other programmers: "Why are we even talking to you if you can't make any difference? I want to talk to somebody who will understand our problems and try to help".
Longest awkward silence ever. Needless to say, I left shortly after.
And, btw., things like delayering are fairly typical efficiency drives. So these "management" positions might not be that stable to start with.