My concurrence - bloody well said Wardog. He speaks the realities. I a huge global downturn, just be very thankful for a job. As Wardog said, the TT contract at least does offer some alternatives to being laid off. It is just a company protecting itself in a very uncertain time whilst still finding its feet in Oz.
Take the job or don't take the job - the decision is your and yours alone. If you can't make that decision then you are lacking one of the key skills of piloting - decision making.