I would think an 'early out' package (properly negotiated)--like many other airlines--would be quite attractive to many (self included). IF the company were looking for something to mitigate layoffs (procedures are clearly defined in the COS/CA/EA/CBAs and cannot be modified as such) this is what I'd do if I were them.
By definition, it'd have to be a great deal better than the 6 months and recall rights which is the current layoff/recall protection in many of the contracts.
But the way this place historically has done business renminbi to donuts it'll be screwed up and the standard bait and switch on the cheap kind of deal.