If COS18 is forced on everyone via a sign or be fired, people can choose to not sign it and take their statutory redundancy.
If you do sign it, you will no longer enjoy LIFO protection based on seniority/redundancy lists. That being said the monetary incentive disappears for firing the senior and experienced, so those guys would very likely keep their employment.
So technically, for the company, it can be done. It would just require very very bold actions on their part. The crap part is we would all either end up unemployed or on a much worse contract, the good part is more people could remain employed.
Am I missing something?