Thursday July 16, 2020

Distressed firms to get more time to pay lump sums to staff who have been let go

Government gives break as companies feared going out of business because of having to pay lump sums to employees

Michael Brennan

Political Editor

24th May, 2020
Regina Doherty, Minister for Social Protection. Picture: Rollingnews

The government is going to extend the redundancy payment break for companies to avoid them being forced out of business during the Covid-19 pandemic.

Businesses had feared the impact of having to pay redundancy lump sums of up to €1,200 a year of service to workers who had been laid off due to the Covid-19 pandemic.

The requirement to pay these lump sums had been postponed until the end of this month, but it is...

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