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What JobKeeper cuts mean for retail

Many retailers are anxious about the impact of losing JobKeeper in March. Image: Bigstock.
Businesses are now two weeks into the second JobKeeper extension period, the final phase before the scheme wraps up on March 28, with no sign of another extension or alternative offer in sight. In an attempt to wean struggling businesses off supports, payments have been reduced to $1000 a fortnight for employees working over 20 hours a week, and $650 for those who work less than that. In the December quarter, $7 billion was handed out through the JobKeeper scheme, according to Federal treasurer