Yes, the Qantas Staff are on outrageously good contracts when you compare them against 99% of the other airlines in the world and at some point they will have to be reworked if Qantas wants to be able to be competitive in the future.
What we have to remember though is that all of these deals were agreed between TWO parties and both those parties should be honoring them now. The staff (particularly pilots) should fight to maintain their terms and conditions. It is a disgrace the way that AJ and his cronies are going about dismantling the airline so that they can circumvent these agreed deals. What it does show though is that if you let these things build up over a period of time when it comes to having to make adjustments you are looking at one hell of a chop as opposed to just trimming around the edges.