The reduction in force would typically be permissible unless there was a discriminatory intent on the part of the employer.
There are cases that hold employer's liable for promises they make of job security and other misrepresentations in recruiting employees, and then terminate them without good cause.
These cases are typically based on a theory of fraud, which is generally difficult to prove. However, if you have proof of misrepresentations made by the employer by their conduct or promises made to you, that could provide a basis for seeking damages against them including lost wages and benefits.
Here is a link that provides more information on this type of claim:
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