RTÉ’s voluntary redundancy plan has received initial funding of €15 million from the Government this year, with an additional €47 million required in the future to meet the target of reducing headcount by 400 employees. Ministers Patrick O’Donovan and Jack Chambers have emphasized that future funding will depend on meeting annual reduction targets.

The scheme, open for four weeks, offers employees aged under 55 voluntary severance and voluntary early retirement for those 55 and over. Eligible staff, with more than two years of service, can receive payouts based on their years of service, capped at €300,000 with varying payout structures.

Approval for the scheme includes a strict review process with a steering group overseeing all stages and external independent oversight. RTÉ Director General Kevin Bakhurst highlighted the importance of a robust business case for approval and emphasized the need for cost-cutting measures to stabilize the broadcaster’s finances.

The Government’s approval is for this year only, with future funding contingent upon successful headcount reductions. RTÉ’s plan to reduce costs and address financial challenges, including recent controversies, is a crucial step in aligning with a three-year €725 million funding plan. The broadcaster’s efforts to streamline operations and reduce employee numbers are seen as essential for its financial sustainability.

Overall, the voluntary redundancy scheme is a significant initiative aimed at reshaping RTÉ’s workforce and ensuring long-term financial stability, with a clear focus on meeting reduction targets to secure future funding support from the Government.