Captain Thunder
I have tried to explain about what the company is doing to the best of my knowledge. Whilst the offer for TR and non TR pilots could be better the company have responded to market forces.
As for your friend, she or he has to make their own mind up. The situation she or he finds themselves in is not new. I switched careers after 20 years in one field where I had been promoted several times and was on a very good salary. I chucked that in to become a flying instructor earning a quarter of my previous salary. A year later I was flying TP on barely anymore money. I too had a young family and a mortgage to consider. It took me 7 years during some rapid airline expansion to get back to my salary level. On top of that my final salary pension was forfeited. My story or your friends story is not unusual in our profession. Our strength of the love of flying has become our weakness in that we will make great personal sacrifices to realise our dreams. Unfortunately our passion is now being used by accountants and MBA graduates against us.
I hope your friend makes a decision they can live with. They will need the love and support of their family and friends.