I to have been cut from LabCorp and they do in fact keep the employees with least seniority and experience.
I was rehired by LabCorp into a much lower paying position and later climbed my way up and surpassed.
However, you never fully gain trust or respect back in an organization like this and other employees feel the same.
You can get cut, die or simply quit but your forgotten and replaced the next day!
LabCorp often holds onto underachievers in fear of paying unemployment.