Commission proposes €1.3 million from Globalisation Fund for former workers of ICT sector in Finland2. June 2016
The European Commission has proposed to provide Finland with € 1.3 million from the European Globalisation Adjustment Fund (EGF) to help 500 former workers of Broadcom Communications Finland and two of its suppliers to find new jobs.
Most of these redundancies happened in the region of Northern Ostrobothnia. The proposal now goes to the European Parliament and the EU’s Council of Ministers for approval.
Finland applied for support from the EGF following the dismissal of 568 workers in Broadcom Communications Finland and two of its suppliers. These job losses were the result of major structural changes in world trade patterns due to globalisation and affected the entire Finnish electronics industry.
The measures co-financed by the EGF would help about 500 redundant workers to find new jobs by providing them with
- steering towards entrepreneurship,
- start-up grants and
- hiring incentives.
The total estimated cost of the package is €2.2 million, of which the EGF would provide €1.3.
Link to the European Commission’s News Article