Having flown with several of the guys that left for UPS, I can say that a big part if it was the uncertinity of the Gobal buyout and the new fleet plan. We knew that the 3 MD-11 were leaving and the B747 appeared to be stalled. That could have lead to furloughs. We are keeping our fingers crossed, but it looks like the 74's are coming and the new DC-10 have come. The immediate threat of furloughs has past.
The future is still in flux. The CEO of Gobal has resigned (was he fired?). Rumors of Gobal and/or Matlin Patterson buying Arrow or Gemini are flying. ATA is getting out of the scheduled passenger business for now and North American has swapped scheduled service for charter business. The bright spot is that World is making money.