This is my personal opinion and my personal opinion alone.....amongst the WJ pilot group I don't think there will be any more layoffs. Other employee groups....who knows.
I think ONEX is just hanging on, hoping for the vaccine to be distributed and for things to get back to normal. They have cut literally thousands of WJ jobs, be it management, other hq positions, flight ops, inflight, ramp, etc, to the point where there literally isn't much fat left to cut. Amongst the pilot ranks, I believe we have ~406 layoffs between WJ, Encore and Swoop. If they start cutting from the bottom of the WJ list, essentially you are going to trigger displacements into Encore, which will cause a $$$ignificant training bill, plus by the time people get downgraded, it probably will be time to bring them back to their previous position. You could theoretically cut from Encore, but I've seen them using Encore airplanes quite aggressively, covering routes the B737 would normally do as the aircraft aren't anywhere near capacity and at least a Q400 is losing less money. Also, my feeling is that they want to be ready to ramp up quickly, because minus the recent Pfizer vaccine hiccups, if this thing gets distributed the way we are being told it is (to the point where everyone who wants one will have one by September), supposedly demand will spike and we want to be ready. Our CEO described us a few months back as a company in hibernation, which strikes me as about right.
All the above is based on the assumption that the various vaccines are effective, and get distributed across our country on a mass scale by the summer. If there are hiccups in the process, all bets are off.