Young and daft!
Ah I remember it well, invincible and nothing could stop you! A short, sharp slap upside your head with the reality stick, usually does the trick though! "You've only just started and if you like it here, sit down and shut-up, else you'll find yourself down at Burger World swapping shifts with Beavis and Butthead until you retire!"
The permie young ones and those less than 18 months service get chopped first, because the redundancy payments are going to be a lot less than the old timer who's done 15 years and would cost the entire month's pay run to get rid of!
Shelf the people will take voluntary and a cheaper payoff ( read: minimum that company policy will allow! ).
Then we offer the usual "10%-or-get-out" deal to the contractors.
Then when it gets too bad and ready to turn out the lights, divvy up what's left and pay everyone else off, if there is anything left of course!
"No one gets out of here alive!"