The Grand Island Hotel is due to close next month
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The Isle of Man government says it will support those affected by recent jobs losses on the island.
Woolworths and Adams stores have shut and the closure of the Grand Island Hotel was announced this week.
Employees with a minimum of two years' service are legally entitled to redundancy payments.
David Cretney, Minister for Trade and Industry, said the government was "committed to helping people through this difficult period".
Education plans
Once a redundancy situation is made public, JobCentre staff contact firms to offer them support.
"In the long-term, the Isle of Man's economic success will be determined by our ability to produce a highly skilled workforce and to attract and retain good jobs," Mr Cretney said.
"We are still attracting new business and generating new jobs in sectors as diverse as e-gaming and aerospace manufacturing.
"Also we are building upon our excellent education system by widening provision of enterprise education and vocational training."
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