Every passenger airline and I do mean every, including SWA, will be forced to furlough very soon if this doesn't turn around quickly. Just off the top of my head we are looking at 12,000 plus pilots laid off or probably close to 20% of the labor group. The number could rise. 4 airlines have already shut their door and closed shop - ExpressJet, Trans States, Compass and one other.
SWA pilots got the deal of a lifetime and much better than any other airline. If you were a SWA pilot you could accept either an early retirement package or take up to a 5 year ETO - emergency time off. Both paid very handsomely. IMO it was to try and help preventing furloughs as SWA has never furloughed in their 49 year history. Big selling point. Your friend is probably getting Close to 100k if they are a first officer. but I doubt they'll be out 5 years. Just my opinion.
The problem with this whole mess is training costs. Take United for example. You might be a Captain on the 777. But now you can't hold it due to the downsizing of the fleet. So you get displaced to another aircraft. That pilot currently on that plane now can't hold his seat due to seniority. They are displaced. The cycle repeats. By potentially furloughing 3500 pilots you might trigger 1000s of training events. Each training event could cost upwards of 60-70k. Do the math.
The problem pilots will face is there will be very few flying jobs to be had and those will pay a small fraction of what they made. Regardless of their time / experience most, if they start over at a new airline or company, will start as the most junior pilot. It's how it works. But most wont find flying jobs and our skill set as pilots doesn't translate well to other industries. I've known a lot of guys who all they could find were jobs at Home Depot or driving a semi or, ironically, a hotel van driver picking up pilots from the airport.
I love my job and am glad my wife and I save and live below our means but bottom line for many pilots, myself included, is we may be out of work flying for years. Some are saying 4-5 years. At a major airline now and finally making decent money but to find a job that could even replace 1/2 or 1/3rd my income will be very difficult If not impossible.. And yes, I've looked.
TLDR: 2020 suck