not always a paper exercise
I was 'At Risk' a few months back
The Company selected about 60 positions to go total compulsory
It was in the pot for 2 of 7 in my department.
At least 10 people were 'saved' in a form out of the 60
Not one went in my department in the end, some cut hours voluntarily and a number of sabbaticals meant all 7 in my department are still employed.
Sometimes things work out
A few people here had asked for sabbaticals just last year to be turned down,
So some happy people at the end of it
Not everyone I know, some that went were happy too some had big pay outs, some not so big but walked into new jobs pretty soon with money left in their pockets
So don't give up hope, there may be options
good luck