Voluntary redundancy

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Newbie
I’m a company that’s is making a large number of staff redundant. VR has been offered however we have been told that this could be rejected if your skills need to be kept in the business, which is understandable.
I have now been told that if VR is refused you are still not safe and can still be made compulsory redundant. Is this right?
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Redundancy only occurs when the job you are doing ceases to exist and there is no alternative position available for you. So if it is beneficial for the company to hold on to you for a short period, they are perfectly entitled to do so until the time when there is no more work for you
There is no law against that, and the employer could change their mind as circumstances change anyway.