Budgets MEPs back €1.36 million in EU aid for redundant workers in Finland | WPN World People News

More than 500 workers made redundant by electrical manufacturer Broadcom Communications Finland and two suppliers should get EU aid worth €1.36 million to help them find new jobs, said the Budgets Committee on Tuesday. The European Globalisation Adjustment Fund (EGF) aid still needs to be approved by Parliament as a whole and the EU Council of Ministers.

Chipset developer Broadcom Communications closed down all its activities in Finland in response to the relocation of manufacturing away from Europe, mostly to Asia. As a result, the company made, 568 workers redundant across Finland, including 424 in the worst-hit region,, Northern Ostrobothnia.

The redundancies are part of a trend affecting the entire Finnish electronics industry, which culminated in Nokia´s announcement of large-scale redundancies in 2011.

The measures co-financed by the EGF would use coaching and training schemes, start-up grants, and hiring incentives to help over 500 redundant workers to find new jobs

The total estimated cost of the operation towards which the EGF would contribute is €2.2 million. The remainder would be paid by the Finnish authorities.

Source: European Parliament