What A330 says is right. With the cost cutting programs there are quite a few restrictions for the employees of companies.
Usually they aren't allowed to fly on Business class on short and medium-hauls (or 2h30 flight time). But on more and more companies, employees have to travel in coach.
In fact, surveys conducted about customers travelling for business on long-hauls showed that there are now more people of that category travelling in coach than in Business!
Of course, if employees relax during their journey, they'll be more efficient at their work place, take fewer days to cope with fatigue, ... But airlines have all increased their fares on Business class over the last decade to higher their revenue (which doesn't mean Business classes are now empty).
This move to the Economy class resulted in the creation of a fourth class on long-haul flights at British Airways (better service than Economy, but not the price of the Business), and Air France on European flights (called 'Challenge', with people sitting just behind Business class, and with priorities, better service, not as expensive as 'L'Espace Europe')