Max, excuse me for throwing my 2cents worth in, but what I believe one of our colleagues sirhcttarp was alluding to, was I thought, invoking one of the clauses in our contract, that being the 'Last in, First out' aspect. His comment wrt being in a stronger position is also not really that wide of the mark, but I don't believe he was advocating industrial action.
Whether retrenchment is the correct thing to do in the current circumstances is however somewhat academic.
Firstly until the company comes up 100% squeaky clean with the facts, as opposed to the statistical spin we have seen to date, and secondly when or if that becomes an option for individuals to vote on, only then may it become something that crew would be obliged to consider. Historically however, consultation on similar matters has not been seen to be the Companies strong point, so I don't suggest you all hold your breath whilst waiting to be asked an opinion.
Also Max, as we all know, unlike many or possibly even all the other CPA staff groups, we do have that clause/protection in our contract, and if now is not the correct time for it to be invoked, I am interested in your view as to when is the right time?
Personally, I question the Companies motives for the SLS money grab, but if, and only if, it were really necessary, I would have though a 2 weeks plus $6000 donation from all staff levels would be more appropriate, bit like a profit share of old!! Not to mention 3/4 pay for GM's. 1/2 pay for directors, and a big fat $zero$ for CEO's, just an old fashioned thought about leading from the top! anyway I digress(as usual - sorry)
When one joins at the bottom of the list, it is clearly prudent to take note of one's vulnerability with regard to the tenuous attachment to that bottom rung of the ladder that many others have taken years to climb, and schedule one's financial commitments in that light. That many fail to overcome the "must buy a house in HK now' fever that grips so many, may work well for some , but for those at the bottom in times such as these, it may also develop into a most undesireable state should they become redundant under that clause. For those that took the gamble, I applaud and hope that things work well and that their gamble pays off.
However, in the unlikely event that the Company really is up to its @ss in crocodiles, it may well be that the Company will unilaterally impose such redundancies in the prescribed order, and were that to happen, only then would I become convinced the Company has actually hit the hard times they are currently bleating about, but until that time, I agree with many others on here, that it's all smoke and mirrors.
So until that happens, keep your eye on the big picture and remember who your colleagues are and who is surreptitiously slipping his hand in your back pocket whilst dangling shiny fake goods in front of you.
Brgds to all