Definitely. 10 saved and 2 blown in 12 opportunities. Disaster of a closer 
Stats can be good indicators of results and team value without necessarily being good predictive stats and/or evaluating performance.
Save percentage falls into that category. No one is going to lose their closer job for going 10 for 12, nor should they. If this was a talk about locking him down long term, then that is a different story.