We may not furlough, but there may be downgrades and paycuts in the form of those downgrades, lineholders blocking 90+ going to reserve (75 hr guarantee) and much lower line values, probably closer to 75 hrs each. There will be a ton of people on reserve (150+), covering less flying. (Great if you don't want to fly much)
Better than anyone losing their jobs. Look for upgrades back to the 5-6 year range.