Cut Senior Officers!!
Back in the days when the RAF was 90,000 strong I read an articule by some guy about the number of senior officers it had. He had done his research, and looked up the RAF lists for 1946 (you can probably still find one in a large decent public library) and 198? (sorry, can't remember). In 1946, just after the end of WWII, the RAF had a strength of approx 1,000,000!! Anyway this chap produced a table of RAF senior officers, with columns for 1 star, 2 star, 3 star etc, comparing the numbers in 1946 with those in 198?. Over that period, with a decrease in strength from 1,000,000 to 90,000 the number of senior officers had only decreased by about 20%!! It might be interesting to do a similar comparison today.
Going further down the scale in rank, I believe we have enough Sqn Ldr engineers to allocate one to every aircraft engine in the RAF!! No doubt there are other examples, and the RAF is not alone, I believe a frequent quote is that the Navy has more Admirals (I am not having a pop at the Navy, and I do realise the term 'Admiral' covers several ranks!!) than ships!!
Again, several years ago I remember reading that the Israeli Air Force has 700 combat (and I mean COMBAT) aircraft, and was run by a 2 star!!
My point is we are rank top heavy, but when anybody talks about changing the system, it is left to the senior officers to make the decisions!! I am sure they are going to make themselves redundant - NOT!! Almost as bad as getting the politicians to police/regulate themselves!!