Writing on the wall
It's a shame anyone has to lose their jobs, but QF is just not in a cost or market position to fight a two-front war (EK, EY, QR on the one hand; LAX routes on the other). I believe the LAX routes generate the bulk of QF profits, so opening those up creates an immediate black hole for the carrier. They probably should have seen it coming a bit better on the aircraft orders front, but hind-sight always 20/20.