| Author (Corporate) | European Commission: DG Employment Social Affairs and Equal Opportunities |
|---|---|
| Publisher | EU |
| Publication Date | 2016 |
| Content Type | Key Source, Overview |
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The European Globalisation Adjustment Fund provides support to people losing their jobs as a result of major structural changes in world trade patterns due to globalisation, e.g. when a large company shuts down or production is moved outside the EU, or as a result of the global economic and financial crisis. The EGF has a maximum annual budget of EUR 150 million for the period 2014-2020. It can fund up to 60% of the cost of projects designed to help workers made redundant find another job or set up their own business. As a general rule, the EGF can be used only where over 500 workers are made redundant by a single company (including its suppliers and downstream producers), or if a large number of workers are laid off in a particular sector in one or more neighbouring regions. EGF cases are managed and implemented by national or regional authorities. Each project runs for 2 years. |
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| Source Link | Link to Main Source http://ec.europa.eu/social/main.jsp?catId=326&langId=en |
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| Subject Categories | Employment and Social Affairs |
| Countries / Regions | Europe |
