It is almost never recommended to shrink database or log files, even less likely to need them done all at once, and absolutely not in a scheduled job. Shrinking log files creates filesystem level fragmentation as the logs keep growing again. If your autogrow settings are too small, this can be a serious problem - see Kimberly Tripp's article http://www.sqlskills.com/blogs/kimberly/post/Transaction-Log-VLFs-too-many-or-too-few.aspx

Additionally, this shrink doesn't account for Transaction log backup first for non-simple mode databases or the repeated cycles often required to move the active log VLF away from the middle or end.