Hi everyone this is my first post so im hoping I get some responses!

I have a schefflera which I bought an intended to be a bonsai but I let it over grow the past 3 years. Basically my question is about pruning the branches drastically. As you can see from the photos below and has a decent trunk but the branches have grown too tall.

Can I prune each branch leaving only about 6 in left on each one and if I did would those Sprout new branches off to the sides or no?

I don't know if I'm asking that correctly but I hope somebody can understand what I'm saying also is it too late for me to put this Bonsai into a smaller pot to maintain it after the new branches and leaves sprout?