You don't think the first thing the NHS will be cutting are the numbers of surgeons, doctors and nurses do you? No, they will look to the admin and management functions rather than their 'front line' capability.
That is exactly what the NHS is doing, I'm afraid. Wards and hospitals are closing and doctors and nurses will be made redundant, though it won't be called that. Usually the term is 'reconfiguring'.
There will also be a lot of low-grade clerical staff redundancies, but senior managers will always find a job. Once in the private sector, the pay will rise sharply.
At the moment these changes are only plans, just as it will be for the forces but once the reality bites, we'll see just how brave this new government is.