Yes.
The only difference between a breast lift (mastopexy) and breast reduction is in a breast reduction the removal of breast tissue to reduce breast volume thus size.
The same techniques to remove excess skin and give the breasts a more “perky” appearance in mastopexy is/are used in breast reduction to obtain the appealing and aesthestic pleasing breast appearance.
Breast reduction is both FUNCTIONAL (decrease neck/back pains, decrease bra strap marks on shoulders, removal of the cause of under breast sweating/rashes, increasing ability to exercise) and AESTHESTIC (balanced figure, up lifted breasts with normally located nipple areolar on the breast mound instead of pointing down, ability to wear certain clothes one couldn’t before and improved self esteem).