I can in simple terms.
Say a company has 12 employees and wants to get rid of one. Another option is that they all stay and take one month leave extra a year. It supplies the same amount of hours in labour.
At QF, the Engineering employees have tonnes of leave stored up. You can multiply the above scenario 50 or so times to cover the 50 who would be made redundant. Their demise is covered by everyone (about 600) taking that extra leave.
Exact numbers not known yet but will be calculated exactly by the parties.