It is reported that workers at the OneSteel Whyalla plant have until to express an interest in taking a voluntary redundancy package. The steelworks company said that the economic crisis has presented significant challenges and it expects to record a net operating loss for the 6 months to June 30th 2009.

Mr Mark Parry CEO of OneSteel said that it will release as many people as possible, but will not know how many redundancies there will be until next month.

He said that employees will get four weeks pay for every year of service, capped at 104 weeks.

He added that "What we are seeking to do is release as many people as possible but also ensure that we have a sustainable cost base and employee base going forward, both in terms of the skills, capabilities and experience of our employees and ensuring that we can man the plant going forward."

He said that "We will be giving them what their separation package will be if we can release them, they'll then have the opportunity to take that away, talk to a financial adviser and their family and make a final decision before they officially confirm that they do have an interest and they want to except the offer that's been put forward."

(Sourced from abc.net.au)