Superquinn has reached an agreement with unions in relation to the long-term future of the supermarket chain.
The unique nature of the agreement has the Mandate union to label it a 'blueprint for how partnership should work in difficult times'.
The survival plan has been called 'The Programme for Competitiveness and Change 2009/2010' and has been agreed with the Mandate, SIPTU and BAFWU unions.
A ballot of the 3,000 union-affiliated workers for the company accepted the deal by a significant majority.
The agreement includes a voluntary redundancy package for 394 workers, and a pay freeze for a provisional period of 12 months.
It also allows for banded hour contracts for workers, which will see them either work between 18-25 hours and 25-39 hours a week. It is hoped that this type of contract will lead to stability in earnings for employees.
The unions and Superquinn have also agreed to a long-term profit and gain sharing incentive scheme that will be of benefit to employees in the event that the business is ever sold.
This is in line with a precedent set during the previous owners' tenure, and there are no plans to sell the business.
Superquinn will continue to set its own budgets annually, but they will be shared with the Trade Unions.
Commenting on the deal, Mandate Assistant General Secretary, Gerry Light said: 'This deal shows how trade unions, employers and workers can, through partnership and responsible actions, reach acceptable and meaningful outcomes for all interested parties.
'The unique arrangement reached between Superquinn and the group of unions should be seen as a potential blueprint by any company suffering similar difficulties in the current economic environment.'
