(1) A department or agency director or institution of higher education president or chancellor may separate any employee without prejudice because of lack of funds, curtailment of work, or in order to permit reinstatement of employees upon their release from periods of military service from the United States Armed Forces.
(2) However, no employee as defined by § 21-5-203 shall be separated while there are emergency, intermittent, temporary, provisional, or probationary employees serving in the same class of position in the same department or agency.
(3) The order of separation due to reduction in force shall be based upon criteria established by the Statewide Workforce Reduction Policy as issued and administered by the Office of Personnel Management.
(4) For the purpose of establishing this layoff formula, the veteran's service in the United States Armed Forces shall be considered as service with the department or agency and computed as a part of his or her seniority.