There is some rumor that the EVP wanted furloughs and this was the SVP's solution to prevent that from happening. Also that this new rule might only be temporary until the situation with crewing numbers improves. I wouldn't hold my breath on that second part though.
I would not put much faith in the "furloughs" crap nor the "temporary" aspect of this policy. I requested leave without pay last month (in an attempt to help out the company in this terrible time of stress) which was quickly and firmly declined by the company. I would have expected in times of stress such as this the company would jump at the opportunity to allow me to help them save money.
I would suggest this is being used as a smoke screen by "fleet" to push ahead further declines to our T & C's.
For those who are new to Emirates, it is just another lesson in what you can expect going forward. There is nothing new here; for those of us who have been here for years this is just another case of "been there/done that". Get used to it as it will never change as long as you are at EK.