All stakeholders must show leadership to help limit wave of redundancy

Ibec, the group that represents Irish business, has said that the COVID-19 Wage Subsidy Scheme is a critical component to ensure the sustainability of our business model during the crisis and for our reboot and recovery.  The spirit of this measure is important and is in the national interest. Ibec is calling on all stakeholders across the economy to help make this important scheme work in order to help limit the wave of redundancies.

Ibec CEO Danny McCoy said: "This is a time of extreme pressure for business but we also have to work with those who are radically reformulating to support the national effort.  The scheme is not perfect but the primacy of ensuring that employers and employees remain connected through its uptake is key before further layoffs take place. 

"I am confident by working with the Revenue Commissioners and other Government stakeholders that we can make the scheme work for both business and for the sustainability of society post crisis.  This is a time for brave leadership and I know that by working with Government, business will help prevent many avoidable redundancies by availing of the scheme.”