It all depends on the text:

(1) is a default setting of an 11 line line paragraph with a single four letter word on the last line. the setting is fairly loose and there are a lot of short words so a lot of inter word space, and the looseness setting you suggest produces (2) with it compressed to 10 lines still with some space at the end of the last line.
(3) is a similar text but with longer words and a default tighter setting, but still 11 lines ending with a four letter word.
Your suggested setting produces (4) where the paragraph is actually looser with more space and two words (or at least one and a half words) on the last line.
That is actually the effect of the changed tolerance changing the hyphenation choices, looseness itself had no effect here as can be seen with (5) which only changed that setting. However if you really allow inter word space to shrink it give TeX the tools to achieve the \looseness setting and so (6) again sets the text in 10 (very tight) lines.
\documentclass{article}
\parskip=5pt
\addtolength\textheight{12\baselineskip}
\pagestyle{empty}
\begin{document}
\vspace*{-11\baselineskip}
\def\test{One two three four red. Blue yellow apple orange elephant football,
tiger, penguin, cricket green. Five six seven nineteen twenty.
One two three four red. Blue yellow apple orange elephant football,
tiger, penguin, cricket green. Five six seven nineteen twenty.
One two three four red. Blue yellow apple orange elephant football,
tiger, penguin, cricket green. Five six seven nineteen twenty.
One two three four red. Blue yellow apple orange elephant football,
tiger, penguin, cricket green. Five six seven nineteen twenty.
One two three four red. Blue yellow apple orange elephant football,
tiger, penguin, cricket green. Five six seven nineteen twenty.
One two three four red. Blue yellow apple orange elephant football,
tiger, penguin, cricket green. Five six seven four.\par}
\def\testb{Onetwo threefour red.Blue yellowapple orangeelephant football,
tiger, penguin, cricketgreen. Fivesix sevennineteen twenty.
Onetwo threefour red.Blue yellowapple orangeelephant football,
tiger, penguin, cricketgreen. Fivesix sevennineteen twenty.
Onetwo threefour red.Blue yellowapple orangeelephant football,
tiger, penguin, cricketgreen. Fivesix sevennineteen twenty.
Onetwo threefour red.Blue yellowapple orangeelephant football,
tiger, penguin, cricketgreen. Fivesix sevennineteen twenty.
Onetwo threefour red.Blue yellowapple orangeelephant football,
tiger, penguin, cricketgreen. Fivesix sevennineteen twenty.
One\-two threefour red.Blue yellowapple orangeelephant football,
tiger, penguin, cricketgreen. Fivesix sevenfour.
some text to restore eleven lines: more complicated word.\par}
1 \test
{\tolerance=1000 \looseness=-1 2 \test }
3 \testb
{\tolerance=1000 \looseness=-1 4 \testb }
{\looseness=-1 5 \testb }
{\looseness=-1 6 \spaceskip= 2pt plus 1pt minus 1.5pt \spaceskip= 3pt plus 2pt minus 2pt \testb }
\end{document}
\tolerancehas a maximum of10000(which is considered "infinite")... but "no change" implies that there's no adequate line-breaking options that leaves with an optimal paragraph layout within the given\tolerance. You can, of course, also consider shrinking/stretching the space between words. See How to shorten/shrink spaces between words?. – Werner Jan 08 '20 at 23:15\spaceskipto allow interword space to shrink more than it would otherwise and/or add more non-standard hyphenation points – David Carlisle Jan 09 '20 at 00:09\-) might make the difference. – barbara beeton Jan 09 '20 at 01:47ti\-ger. Not a great break, but acceptable, and it might help. (To test hyphenation, run plain TeX from the command line, input\relax <cr>\showhyphens{tiger othertestwords}<cr>. End the session with\bye. – barbara beeton Jan 09 '20 at 17:52