I just left a position after being threatened with these layoffs. I was 2nd most sr. in the engineering team and left many incomplete projects. They canned the rest of the team and moved to outsourced labor.
This may be career suicide, just saying.
I must say I never expected to hear anyone actually suggesting stack ranking! I know in the abstract that proponents must exist, but it was still a surprise.
Sorry, this does not work. 99% of the times. In my opinion.