€250m fund to avert redundancies

WORKERS in recession-hit firms facing redundancies could be saved from dole queues thanks to a €250 million jobs fund which would temporarily pay them reduced wages in line with welfare payments.

Final touches are being made to the employment support plan which could see workers paid €200 a week while their firms struggle to get back on their feet.

The emergency measure for companies about to go the wall could avert tens of thousands of redundancies, allowing the firms to recover rather than close their doors.