Workers accept improved redundancy offer
An enhanced redundancy deal has been accepted by 300 SIPTU members at NEC Ballivor.
Staff at the semiconductors factory in Co Meath voted overwhelmingly to take the package worth 7.75 weeks’ pay per year of service, including statutory entitlements.
SIPTU’s John Regan said the deal covers outplacement services, employee communications, orderly closure process and the redundancy compensation.
“As well as the 7.75 weeks’ pay per year of service, management will renew VHI cover for employees who are entitled to such cover,” he said.
“Employees with less than two years service will receive the equivalent of the 7.75 weeks’ pay per year of service on a pro-rata basis; additional payments will be made in respect of employees who are affected by the ‘capping’ of the redundancy formula and an additional €1,000 in respect of any other standing claims.
“Management will ensure that pension benefits are fully funded in accordance with the trust deed and rules – to fund 100% of benefits.”
The terms of the agreement were negotiated jointly by the Meath Branch of SIPTU and the ACT Branch.
