Relax!
As usual, people are running around in tight circles, listening to pilots who have absolutely no idea what they are talking about.
Remember CX cannot force a contract on you unless you agree in writing. On the other hand, every company in HKG is facing problems with this current recession. Some are laying off, and others are just outright cutting salaries. Others are just closing their doors.
It will be difficult to garner any support in the current climate as many are faced with the same challenges. As is typical of CX, they will always try to facilitate a change, read COS 08, with a genuine call for help from their employees.
Take the SLS but choose to stay on the same contract. Nothing changes and you get a well desrved break. Moreover, CX's hands are tied as you played the good employee card.