From a captain friend in Jetairways India they are very short of B737 captains. You'll have to research the T's & C's. Is it people leaving or uncovered expansion? I don't know.
The thing with any employer, they can test the water quite often. If they squeeze and nobody leaves they stay like that for a while, let you get used to it and it then becomes the norm. Then they squeeze a little bit more, perhaps too hard, back off a little until the squealing stops and they stay at that level. Guess what; it is a little squeeze after all and the employer has moved forward. Again, that becomes the norm. New guys come in with no complaints because they know only today's T's & C's.
It happened with the pax T's & C's. Go back 10 years, even 5 years, and compare what s$£t they put up with now compared to then. Guess what, the competitiors followed in the wake. Now it a great game, they can work as a team. One airline squeezes the pax in one area, the rest watch the results on pax figures. No effect, so they adopt that policy. Another squeezes somewhere else; same result, they all follow. Slowly it becomes the norm for all airlines and the pax have no choice. An example is baggage charge and booking fee/credit card charge. Even the majors have jumper on the c.c. charge band wagon. Just consider, one LoCo's books 70m pax a year at 6euros a pop for cc charge. Guess what their profit was. They make an annual profit not from flying a/c but from screwing the pax on a cc charge. Imagine if they upped it by 1 euro. Would it really effect the pax numbers? I doubt it, but see what it'll do to profit. It's like having your own printing press for euros.
The same attitude goes for employees' T's & C's. They look at each other and if the one your with offers just enough above the competition, plus no change of base and thus no disruption of family, then who is going to swap horses. It has to be a significant improvement to up-heave the family. If they all adopt the same naff T's & C's then there's no greener grass round the corner. It's a long way away. For the younger ones they can go to a major and wait it out. It's the longer toothed guys who are stuck.
What will happen eventually is there will be not enough F/O's to promote because they will have looked into the future and not liked what they saw, and left. The expansion will slow or stop; there will be empty left seats and some carrots will need to be thrown. Everybody will be throwing carrots and some will not be able to have big enough and shiny enough ones. They will suffer. If they go bust, the whole cycle starts again because any job is better than no job. The laws of the jungle are once again king. There might be a short window of opportunity at the start of the carrot throwing to gain a little ground, but it will sink back quickly on later contracts once the big boys have their monopoly muscles back again.
But look around you and see a dumbed down world. Lowest price is everything, not best value. They are not the same thing. The public will spend the least and put up with dire stuff for short travel times. More to spend at the destination, so expect little public sympathy. It's a difficult one to find best solution for, especially in the present climate. Excellent profits, but still the screws are on. Do not enter the jungle with eyes wide shut.