Definitions of last in, first out
a rule, policy, or law that says that if an employer has to make one or more of its employees redundant because there is not enough work, the person or people most recently hired must be the first to go. While some jurisdictions require this as a matter of law, employers with more freedom generally no longer apply such a policy as the only means of determining who must go.
Younger workers are more likely to lose out under a last in, first out system, as they tend to be the people who have worked for the shortest time at an organisation.