Remember after Sept 11 , Gordon Bethune immediately fired 20% of Continental Staff (furloughed as they would say, we would say redundant), and then cut the wages by 20% of those who remained.
Wouldn't have happened at Qantas , the staff wouldn't accept it.
5000 staff is about 15%.
Pay freeze over 3 years is close to 10% wage cut for all QF staff.
This may not be exactly the same numbers as you quote, but it is a significant proportion.
The former QF Chief Economist , states quite simply that he doesn't think QF International can be saved. He presents as a credible voice who has moved on since his QF days, and now among other things teaches MBAs at USyd/NSW
Yes, he does to other things, like provide advice to interested parties to this debate