I'm afraid that steadfastly clinging to the belief that "a person is not made redundant, it is always the post that is made redundant" is being a bit naive.
Certainly, it's true that 'roles/posts' can become redundant, and it's blatantly obvious when that happens - a client is lost, so a client manager isn't needed, an office closes/moves etc. If, however, there is a 'restructure' with lots of spurious consultation 'interviews' run by a shiny-faced new graduate from McKinsey (who is already earning twice what you do, after 30 years in the company) then you can be sure that there will be a lot of smoke and mirrors and it will be the roles of the poorer performers (or the older, more costly employees) which are 'no longer needed'. There will be lots of new, differently named, roles which are 'more senior' and 'completely different', but strangely have a job description which is 75% the same as yours (if you're being made redundant).
I've been made redundant three times and have had to make people redundant too. There shouldn't be any shame in it, sometimes the 'fit' with a person/company just isn't right anymore.
I took 'voluntary' redundancy (and a nice payout) on each occasion, even though staying wasn't really an option. It's just a mechanism to allow everyone to part amicably.
In my first redundancy, I had an alcoholic, misogynistic boss about whom I wanted to make a formal complaint . They offered to pay me off instead. I was getting married and took the cash and had a lovely honeymoon.
In my second, I was pregnant and rather ill with it, and the company tried to make my 'role' redundant but then offer it to someone else. It was ugly - lawyers involved. In the end, I settled for a big payout, rather than take them to court for sexual discrimination/constructive dismissal, as I was simply too tired/emotional to cope with a court case. On paper, it's still 'voluntary' though - pah! 
- Third time I think it was a genuine 'role redundant' thing - a piece of legislation changed and effectively outlawed what my group did. I was offered another post in the company, but I wasn't interested in that area, so left and became a consultant instead.
You don't need to go into great detail about why you left a previous role, and companies actually pass on only very limited info about a previous employee e.g. yes, they worked here between 2014-2016.
So to OP - do whichever suits you best/gives you redeployment opportunities/a bigger payout. Then work out your 'story' about why you left and find something new! Good luck 