Looks to me like it may be the old set up.
Bazillions claimed to be lost. No one really has any idea where the money is going and there's no real transparency. But we are supposedly in huge financial trouble; likely some truth to it due to CC and TB from HKAOA being effective and not being able to fill jets and expansion. Also some truth due devaluation of product. None of which has anything to do with the individuals being canned and nothing with restructuring doing anything to address the 'problems' (which it obviously doesn't).
Gloom, doom, and austerity all around (those with any knowledge of history have seen this before).
BUT
CAD soon goes to 1000 hours (like much of the rest of the world)--just like it changed the ULR/LRO rules. And the company doesn't want to pay for any of it under existing terms. So it perhaps comes up with an elaborate scheme to raise OT threshold (and make working conditions worse) and try to poor mouth, chisel and get concessions. More work for less over time which should be a familiar theme. A bit draconian and ruthless to sack a bunch of people unrelated to the issues to do this, but who would be suprised by draconian and ruthless ?
So's I'd not fall for any of the propaganda coming down the pike. How much truth do we really get around here anyway ?