250KTS has hit it on the head. When asked what the company has achieved they could have said, by lots of voluntary actions by staff, we have saved x million and everyone is on board with saving the company. Instead of which we have a situation where they can say, next May we can get rid of staff cheaper, and we've wound them up a bit. No savings ATM though. Oh, and if we get busy again, we have no overtime agreements so delays will go up if anyone is sick.
Anyone externally looking at the company would go "how stupid are you?". We have a union that works well with management. But they and we are hacked off. If they wanted to change the agreement just talk to the union and see what can be done, not act in such an authoritarian way.