As an FO who is directly affected by this, the worse thing is not knowing who to listen to.
Some say, sit tight, it is just a scare tactic from management to force guys to accept conditions only favourable to them. They will always need 737 FOs some say.
Others say, if you don't look like you're keen and willing to help the company out then you'll be one of those sacked.
Option 1. V Aus- Senior FO maybe, but cruise FO..... Forget it.
Option 2. E Jet FO on E Jet pay....better than being unemployed.
Option 3. Pac Bro- Too many unknowns there. Ts & Cs poor.
Only time will tell!!!! I hate having other people determine my future!
Good Luck to others in the same boat!!! Hope you get what you bid for.