Anything you hear at this stage is speculation. I haven't heard anything about them cutting redundancy entitlement, although there have been unconfirmed reports that they are considering reducing the amount that the government pay back to employers, although this should not affect the amount that the employee receives.
It could however mean that more employers plead an inability to pay, and employees then have to apply to the Social Insurance Fund for their money instead of being paid directly by the employer. This would mean a significant delay for employees receiving their payment.
It is however all speculation at this stage.