/lɑːst ɪn, fɜːst aʊt/ – Phrase
Definition: nguyên tắc đảm bảo ưu tiên thâm niên công tác khi sa thải (người tuyển dụng sau sẽ bị sa thải trước).
A more thorough explanation: “Last In, First Out” (LIFO) is a method of inventory valuation where the most recently acquired or produced items are assumed to be the first ones sold or used. This means that the cost of goods sold or inventory valuation is based on the cost of the most recently acquired items, with the older items being considered as remaining in inventory.
Example: In the event of a company downsizing, the principle of “last in, first out” may be applied to determine which employees will be laid off first.