Re: Sunday Pinch-a-Loaf, Baldie Zuckertart et al.
In theory it's a bit better in the UK and the process is defined in law for large layoffs. For starters, people aren't made redundant, their positions are, so the company first has to define which positions it no longer needs. Then it can identify the groups of people who are affected by the positions going and then it comes up with a scoring system to decide who in the groups go. Scoring can be based on performance reviews, sickness record, disciplinary record, etc.
I've seen it work well (in the sense that it was fair in terms of selecting the ones to leave) and I've also seen it gamed by the management to make sure that they got rid of the "right" people. The gaming covers two scenarios really. Firstly, the one where management are crap/scared of using performance management to get rid of poor performers, so they skew the scoring to help. Secondly, to prevent the good people leaving; the rules are that the company has to ask for volunteers in each group and, legally they must accept volunteers before any compulsory redundancies. So if your best three engineers volunteer to go because they'll get a decent payoff then you have to accept them, so don't be surprised if a redundancy round comes closely after a re-org.
Interestingly, the one that worked well was in a company with a couple of unions.
Note that the above covers large layoffs - smaller ones have less process and are a bit simpler from a management point of view, but the company still has to demonstrate fairness.