Good luck to all concerned... Remain positive, the Unions are there for a reason to help and make things as best as they can for you guys/girls.
I've just walked away from a business that cut 15,000 people and pay freezes etc, to progress with obtaining qualifications for a future career, so sadly it's adjusting to the times for all around.
All businesses are cutting back to ensure they have a optimum balance for the future, whilst generating greater work loads for those left etc.
It's part of a new chapter, what ever that may be for all of us, but I always believe good things will happen eventually
, whilst it's frustrating/stressful right now (been there myself quite recently).
Only you can decide what you will do next.