It is true nonsense to fire newly-trained pilots, just to hire new ones one year later. Therefore a management threatening with such a thing can't be taken seriously.
In my company the management used 9-11 as an excuse to get a few things "cleaned up". As a newly hired pilot I was told I would be fired if my colleages wouldn't give in to a salary-cut. In the end they did give in and I was allowed to stay.
Afterwards I can only think of the management using me as pressure on my colleages in a very nasty way.
Firing me as youngest and therefore cheapest pilot would not solve anything!. .Firing me as newly-trained pilot would mean the company would lose about 100.000EUR of training-investment! They could keep me here for years and it would still be cheaper than hiring another guy.
The only thing that it did cause with me in the end is that I almost lost my motivation, because flying on the edge of being fired does not really make it fun.