So I just reread the LOA. Turns out there is furlough protection until May 31st, I was previously under the impression that they would just try their best not to furlough.

I'm aware that this means absolutely nothing if the company goes under, or if the MEC agrees to a change, but it's hard to believe that the company would agree to this unless they had a decent plan to keep the company going. So I think this is actually a very good sign.