To me, under circumstances universal income may be the most sensible solution. Which would also largely avoid questions like this one (btw everyone still going to take a hit - no doubt about that, but at least it could be negotiated between parties then). Governments still need to figure out if they have enough resources though - it's a lot of work if one is willing to take it.

Unfortunately, what I see instead here in Canada is heavy subsidies for large banks who are just passing it as more debt to everyone else. May do even more harm long-term.