No, I've had no problems with shrinking or color loss after washing and drying the several shirts like this that
I have. I usually wash cottons in cold water and dry on the "wrinkle reduction" cycle, but if there is a stubborn
stain, I switch to warm wash after treatment with spot remover and then dry as usual. I wear these shirts for
my exercise class which is three times per week minimum so they are getting plenty of wash/wear :)