Here is what Aaron Todd had to say about it  

What the CEO's don't take into consideration is that if you go from say 900 helicopters to 600 helicopters, the call volume doesn't change.

So suddenly those bases are taking on the average 50% more flights.   You go from a 30 flight volume to 45 flight volume with no change in income???

That won't wash well with crews or pilots.   This is what you are seeing now.   

These companies are closing the less profitable bases to cannibalize the pilots and crews to fill in on the more profitable higher volume bases.   But what they are also seeing is a mass exodus from the system.

They didn't count on crews and pilots leaving in droves.  Which is why both AMC and GMR have 150 openings and 216 openings respectively.

That's what happens when you crunch numbers wihout considering human behavior.   Bad management and bad executives lead to a bad industry.