I think the word is “ right sizing “ not “downsizing”...downsizing has never been used by the company. There is a difference.
Company wants to save as much money as possible and making a few thousand pilots redundant and having to pay them off will not save the company money .
they don’t want to be caught when things pick up and have to rehire/retrain , I optimistically see will be voluntarily unpaid or some sort of salary reduction scheme.
If the airplanes don’t fly , they don’t make money. They need pilots. And this Covid is just temporary.