It's a laboured (and not very apposite) pun on 'canned'. It says nothing about management. It's fairly mindless anyway, saying nothing in particular about anything. It's just an excuse to trot out a silly pun.
The fact that it was used in that context suggests that it may have been idiomatic at the time in Am. Eng...? I've never heard it used in Br. Eng.
Student or Learner