Deal on the new European Globalisation Adjustment Fund

Tonight, the European Parliament reached a deal with the Council on the European Globalisation Adjustment Fund for the next seven years. Cindy Franssen, EPP lead negotiator stated:

“With the current corona crisis and the imminent Brexit, the European Globalisation Fund is desperately needed as a social safety net for our employees. I am extremely satisfied with the agreement that includes the spearheads of parliament: a lowered threshold to 200 redundancies and a broader scope for redundancies as a result of digitization, climate transition and Brexit. The enhanced Globalisation Fund will play an important role in the post-corona era.”

The European Globalisation Fund (EGF) has been in existence since 2007 and provides support to workers who lose their jobs due to structural changes due to globalisation. It does not pay any benefits, but can offer job search support, career advice, further training, retraining, coaching and entrepreneurship.