Just like Wyler (post 10) I have been in nearly 30 years, and have heard talk of "likely mass PVRs" many times in the past - none of which has ever materialised.
Yes, there will be a small spike in PVRs shortly, as many of those that applied for redundancy and didn't get it elect to leave anyway. This is not unexpected. If someone is seriously planning to leave and has started the process, job hunting, qualification gathering, considering a relocation, etc, their mind set is firmly on leaving. If they don't get voluntary redundancy they either try again in the next tranche or PVR, they have already made the mental leap and just wish to get on with the process and the rest of their lives.
But as for a mass exodus because of low morale, forget it. The economy is not particularly buoyant out there. The relevant statistic is that the RAF had 930 redundancy slots, and 620 applications - hardly oversubscribed, and not indicative of a rush for the door in terms of future PVRs.