I’ve always been sure they were insane. So many unions are self-destructive in this way.
The company has been no less self destructive. After all, they sat at the same table and made the deals with the union to begin with.
Seems to me that they would have been better off many times in the past by letting the union strike and drive them into bankruptcy. Then they could have restructured in better economic times. The union would be far more willing to renegotiate after being starved out for several months.