Anyone looking at starting out on a flying career at the moment needs to realise that they can't expect to get a job for the next 3-4 years. There are thousands of qualified and experienced pilots on the street already, and those laid off will be the first taken back on once demand picks up. Whilst some will have retired, lost their licence, moved into a different career or in a few cases not be wanted back, the market will be heavily oversupplied in the short to medium term.
The flying training sector will be devastated at the light aircraft level as it could easily be two years before it's worth starting a year long CPL course. Simulator centres will probably survive but with reduced business, flying clubs doing PPL training and private hire likewise. Flight schools churning out 20 - 30 new CPL holders every few months will probably go under.