IFI unions oppose redundancy pay-out

IFI workers will get an average redundancy pay-out of €50,000 but unions say the settlement is totally inadequate.

Taoiseach Bertie Ahern will hold a crunch meeting with IFI unions in Cork tonight to discuss workers’ concerns over redundancy payments and pension entitlements.

The company’s shareholders, the Government and British company ICI, have agreed a redundancy payment fund of 24.4 million for the 620 workers who will lose their jobs at IFI’s three plants. ICI will give 12m to the fund and the Government will provide the balance of 12.4m.