Amongst various tactics the bullies at H/O will now be evaluating, the next stage I suggest will be a little "gift" in the mail from CX.
This new deal will have further "improved" conditions and an expiry date.
All most of us outsiders can say is beware Airline Managers bearing gifts. You guys have previously been forced to sign new contracts under duress and look what that resulted in.
As a casual observer all I would ever suggest is don't sign anything and keep doing what you are doing. Don't resign, don't go on strike just do your job safely.
The intended intimidatory pressure they are applying to you with these sackings is further reason for you to be doubly sure of safety when at work. If you miss a Notam or inadvertantly skip a cockpit item (gear pins removed?) then you are easy pickings for them. Take your time and keep doing exactly what you have been doing so far.
Incidentally, all you are doing is what you are contracted to do - what more could any employer require. If this has thrown Cathay into such chaos isn't that perfect proof of undermanning on their part.
Keep it up folks - may the force be with you.