Well just do the sums genius, starting with overtime lost.
Some engineers have become reliant on OT due to the fact that our pay has failed to keep pace with inflation. Since jan 2006, some people trying to support young families have become reliant on OT more and more without noticing. They now know, however, that OT will not last forever. This will be the next thing on the QF chopping block. What position will these guys be in then?
The only thing that you can count on is a fair and reasonable base pay rate. We all have our own budgets to manage in these "tough times". Not just you GD. In fact, I would consider ours much more important. This is why a fair pay must be negotiated in good faith through an EBA process. Not 3% "signed off by the board" simply thrown at us, whilst they help themselves to generous profits.
I do not believe this to be an unreasonable request.