As you may or may not know, Republic filed for Ch11 bankruptcy today. Their CEO said this to the employees-

"We have worked for months with our stakeholders to attempt to restructure the obligations of our out-of-favor aircraft and to increase our codeshare revenues; it has increasingly become clear that this process has come to an impasse and that we can no longer afford to waste our valuable resources. Combined with our loss of revenue during the past several quarters and a decline in our liquidity, we could not allow a stalled negotiating effort to put our core business at risk."

With just a few words changed, you literally could say this very same paragraph to the people you are negotiating a new contract with.