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ARTICLE · 09 DECEMBER 2011

Redundancy Rebate Reduced From 1 January 2012

Mason Hayes & Curran LLP
Mason Hayes & Curran LLP
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Mason Hayes & Curran LLP

Mason Hayes & Curran LLP

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Employers who are currently considering implementing a redundancy exercise should consider the implications of waiting until next year to do this. Budget 2012 provides that the employer rebate on statutory redundancy payments will be reduced from the current rate of 60% to 15% with effect from 1 January 2012.

IrelandEmployment and HR
Melanie Crowley
Melanie Crowley
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Employers who are currently considering implementing a redundancy exercise should consider the implications of waiting until next year to do this. Budget 2012 provides that the employer rebate on statutory redundancy payments will be reduced from the current rate of 60% to 15% with effect from 1 January 2012. This will make redundancies a much more costly exercise for employers from the start of next year.

Employers implementing redundancies need to ensure that they comply with the Redundancy Payment Acts 1967-2007 and that the redundancy process which is carried out is fair in order to minimize the risk of, and to defend, claims. This normally involves engaging in consultation with employees, carrying out a fair selection process and considering alternatives to redundancy.

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