GSM hardly unique here
Just read on another thread running alongside this one that BMI are currently making similar moves
The airline seems to have been overcrewed as winter approaches and expansion plans have been put on hold. Numbers that they had previously anticipated needing are no longer required. People that have been offered contracts are now surplus to requirements. Crew have been offered unpaid leave.
Just poiniting out GSM are not a unique case; however a lot of people on here want them torched for their actions. I will agree, I'm sure it's not a nice situation to be in, however airlines are businesses and business is a very fickle world indeed.