It a shame that the current states of many economies will mask any short term effects of Lufthansa management input. In the long term, it can only be good for the business that decent management will finally be able to incorporate what has been an airline with tiny(baby?)-minded management and unrealised promise into part of its own potentially world-beating organisation.
Lufthansa could utilise the current lull in business to replace the existing mob of ill-chosen and poor managers at all levels and replace them with their own people. The workforce and BALPA won't be a problem in this respect - they have historically demonstrated little stomach for resistance, and none for outright confrontation. Whether the maximum potential of such a workforce has ever been realised in such an oppressive environment is quite obvious. If you want the best from people, you must treat them properly.
As to whether such improvements will be good for employment, that is doubtful. The current climate must (should) lead to redundancies. Eventual improvements in efficiency, which any decent management will find easy to identify, will inevitably lead to a reduced workforce. History demonstrates that acquisitions lead to shrinkage, occasionally massive.
And lets be brutally honest - Lufty bought a wad of Heathrow slots. That's all they're interested in.