Furloughed is the best
Being furloughed is the best outcome during a downturn. When things get going again furloughed pilots just pick up where they left off. They do not have to remain current. They don't have to prove themselves again. Just show up for ground school.
During the boom times I always advocated for a quick trip to a regional. Some thought it would be fun to stick it out as an instructor thinking that the airlines would always be there anxiously awaiting their application. From experience I knew better.
People who are stuck out as instructors and have no 121 time are now at a huge disadvantage. That bit of short sightedness or bad luck could be a career ender. In any case the mountain that they have to climb just got a whole lot bigger.
Skyhigh