94% ex Broadcom employees find job

About 94% of the employees of ICT company Broadcom, who lost job after closure of the company, now find employment following the project undertaken by means of EGF support, said an official press release.

Broadcom Communications Finland closed down in autumn 2014, which led to the redundancy of 568 employees.

The Oulu region was hit particularly hard. In the same year Finland made use of a grant from the European Globalisation Adjustment Fund (EGF) for a project where services were provided to those who had been made redundant to help them find new employment.

The measures to support this included customised training and coaching. A total of 374 took advantage of the services offered. By June 2017, 94 per cent of the people who had been made redundant had found a job, two per cent were in education or training, and three per cent were still unemployed. Of those who participated in the measures 90 per cent had found employment.

“Without the support from the European Globalisation Adjustment Fund it would have been difficult to secure support for all those who needed it, but all the honours for finding employment should go to the people who had lost their jobs. With their world-class expertise they attracted new international companies to Oulu, bringing new jobs and positive vibrations to the region which still carries on,” said Minister of Employment Jari Lindström.

One of the keys to the success of the project was the close collaboration between all those involved, including cooperation among different types of the employers across sectoral borders. ICT experts find demand on the labour market in a variety of fields.

Of the total funding of EUR 1.5 million the EU contributed 60 per cent and the State of Finland 40 per cent, in line with the EGF principles.