It may not be a good position, but only assuming they do nothing. As Godfrey said, they're taking steps to hoard cash over the next 2 years which is what they've built as their expected time until the market heads north again. I take that to mean that they'll take the measures necessary, such as cutting capacity (as already foreshadowed) and managing the workforce to cut the expenditure as needed.
But, hey I guess time will tell