Germany has been granted approval by the European Commission (EC) today (20 July) to apply for EUR4.3m (EUR$6.1m) in aid for redundant auto workers.
The financial help through the Globalisation Adjustment Fund (EGF) will assist 778 redundant workers back into employment, with the application now being put before the European Parliament and the Council of the European Union for a decision.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
“The car industry has been severely affected by the financial and economic crisis,” said EU Commissioner for employment, social affairs and inclusion Laszlo Andor.
“Today’s decision will help the redundant workers on the path to a new job through training and support to help them gain new skills.”
The German application relates to 778 redundancies in five car parts suppliers, which suffered the impact more seriously than main manufacturers.
A statement from the EC says the package of EGF assistance will help the workers back to employment by offering training courses, international and national labour market guidance, in-depth guidance for business start-ups, placement search, counselling and support in a new job and during unemployment, as well as job search allowance.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataTotal estimated cost of the package is EUR6.7m, of which the European Union has been asked to provide EGF assistance of EUR4.3m.
