One may have different views and opinions on CX management (I have neither), but Cathay has definitely NOT a history of laying-off people, when things get financially tough. That should be of some comfort to people who work there.
Whether it will be true this time, remains to be seen, but CX is certainly better positioned, than any other airline at the moment. Asia might weather the current crisis better than the rest, so I woudn't panic just yet.
The world is currently a crazy place, but people still need to travel and goods still need to be moved around the world. Oil is on its way down and central banks are beginning to address some of the problems. That in itself is more optimistic than people may expect.
My guess is, that the annual bonus for 2008/9 is severely at stake, no big deal...considering the alternative....
keep the chin up...