Another reason why they are saying "there MAY be redundancies" is possibly due to the pending decision of the proposed changes to the cabin crew ratio.
If they get the 1:50 through, that would mean a fair amount of crew wont be required. This applies to mainly Domestic crew. They are probably hedging their bets by saying MAY in case the decision goes against them and they arent able to release any Domestic crew as there wont be an excess.
Lets face it, if there was such a reduction in flying, there would be pressure for redundancies in the pilot ranks as well - which there isnt.
Also, I didnt hear of any reduction in the Jetstar cc ranks.
Hasnt their operation been hit hard by disasters in Japan, floods, etc etc??
I would have thought there would be at least some cutbacks there.
Last I heard, figures show today a marked increase in pax numbers travelling on mainline services so god knows what they are up to