The contract specifies last in, first out so that is what they have to do by law. The problem is, the last few hundred in are on COS 18 so they are basically hourly paid and save very little if they are made redundant. The company can and will offer voluntary redundancies but the terms will have to be attractive enough for the highest-paid pilots to accept them. COS 99 pilots have no hope of extension now and I would not be surprised if the ones who have been extended are let go, I'm sure there must be a clause in their contracts to allow the company to do just that.
CX is going to have to downsize significantly and it will be years before it grows back to its current size, stand by for orders to be canceled and upgrades to come to a halt.
We will get through this crisis but it is going to wipe trillions of dollars from the world economy, businesses will fail and the ones who survive will be significantly weakened. The silver lining to all of this is that oil prices are low and trending lower, CX stands to make billions coming out of this as long as the fuel hedge geniuses are on SLS and not making any more of their idiotic gambles!
Stay safe everyone, ultimately there will be a vaccine this time next year. Looking forward to a COVID 19 free world.