LIFO is not used these days in any properly regulated employment
Where did you get that from? As I understand it, BALPA have paid their top employment lawyers vast sums of money and they reckon that LIFO is still the most legally defensible position, as opposed to many airline employers who feel it isn't (and they have paid their employment lawyers vast sums too!)
Fact is no one in this industry really knows since the employment laws were changed a year or two back. The good thing from your point of view is that employers are going to be reluctant to lay people off compulsorily as it is pretty much uncharted waters again and many will feel reluctant to be part of a test case! This is more true if you are in a well represented, unionised airline. This comes from my airline who are restructuring after merger and having offered the first round of VR and are now deep in negotiations with BALPA over the next offering.
Good luck
PP