UO is in a much better position than CX as the short haul low cost sector will recover well before the long haul premium hub airlines. Belt tightening for the next half year would indicate some form of plan in place in anticipation of recovery and implies jobs will be retained. Subject of course to work visa renewal.
Next month CX are likely to do what EK did this time last year, mass layoffs will be required as there is no end in sight. CX have done extremely well to hold out as long as they have in the hope of an upturn, especially as they lack the government backing enjoyed by EK and SQ. Even with this backing, major layoffs were made a year and half a year ago respectively.
CX pilots would be wondering what criteria would be used in deciding who gets the chop, anyone with a substantial amount of sick leave must be very worried as this was one of the main factors used at EK.