If, for reasons of economy, lack of funds, abolition of position or positions, or for any other reason it becomes necessary for any city of the second class to reduce the number of employes of its bureau of fire or the number of fire alarm operators or fire alarm box inspectors in its bureau of electricity, then the city shall follow the following procedure:
First: If there are any employes in its bureau of fire, fire alarm operators or fire alarm box inspectors eligible for retirement under the terms of any pension fund, then such reduction in numbers shall be made by retirement on pension of all the oldest in age and service.
Second: If the number of employes in its bureau of fire, fire alarm operators and fire alarm box inspectors eligible for retirement under the pension fund of said city, if any, is insufficient to effect the reduction in number desired by said city, or if there is no eligible person for retirement, or if no pension fund exists in said city, then the reduction shall be effected by suspending the last man or men, including probationers, that have been appointed. Such removal shall be accomplished by suspending in numerical order, commencing with the last man appointed, all recent appointees until such reduction shall have been accomplished. Whenever the number of such employes in the bureau of fire or fire alarm operators or fire alarm box inspectors in the bureau of electricity shall again be increased in numbers, or if any vacancies occur, the employes suspended under the terms of this act shall be reinstated to their former class before any new appointees are appointed.
53 P.S. § 23497