The other key issues are:
Are you working 5 half days or two full days? Commuting 160km to work for half a day is unlikely to be viable.
And what are the alternatives? If you can get a full-time job nearer home, then you should grab the redundancy.
If you reject the redundancy and don't like the move, then you are unlikely to be offered the redundancy. So it's probably a good idea to take the redundancy. I am not sure how it's calculated for part-time workers, but for full time workers, you would get 21 weeks pay up to a maximum of €600 a week. So if you are currently earning €200 a week, you would get €4,200 tax-free.
Brendan