No rise after redundancy talks

INCREASING statutory redundancy payments to workers would cost up to €130 million, a report released yesterday shows.

To give workers three weeks redundancy pay for each year’s service, employers would have to pay €25m to €44.5m this year, and €47.5m to €85m would come from the Government’s Social Insurance Fund, it says.

At present, redundant workers are entitled to one week’s pay for each year of service and those aged under 41 get half a week’s pay per year.