Yep. All garments, if they are machine washable and dryable, will experience some shrinkage. How much depends on how it's washed and, especially, dried.

If something gets incinerated in the dryer by mistake and becomes a hand puppet sometimes re-washing and, while it's still wet from the washing machine, pulling on the sleeves and body front, side and back can bring it back into shape. You'll then need to hang dry.

I carry a lot of different brands. I have entered their care recommendations in the Care and Feeding section on the item's product page.

Personally, I recommend cold wash and hang dry for anything that can be machine washed and dried. I know this can be a drag but you've just spent your hard earned dough on your new duds so show them some love. Also on styles that have a trim fit there is zero margin for error if it gets roasted in the dryer. I'm tall so I try to keep as much body and sleeve length as I can, so I take my shirt out of the washing machine and pull on the sleeves and front, side and back length of the body to try to mitigate as much shrinkage as I can. This also pulls out some of the wrinkles (I'm not big on ironing).