Douglas -
The Long Haul cabin crew are striking to achieve recognition of the fact they have has crew removed from the cabin yet the number of pax has increased. If the crew reduction has saved the company X amount then I don't see it unreasonable to expect a share of that. After all - they ARE working harder as a result. You can't dispute that they work harder as a result of crew reduction. Simple really. In effect they are doing more work for less money (if they accept 3%).
Last year Qantas committed itself (in writing) to discussing the above as a means of recognising this significant contribution. They have done nothing but walk away from this obligation.