EGF grants EUR 2.5m for axed Anttila, Stockmann workers

The European Globalisation Adjustment Fund (EGF) will grant Finland EUR 2.5 million to assist those laid off from bankrupt chain stores Anttila and Stockmann. The funds will be used to help in the re-employment of 1,500 people, said a government press release on Thursday.

The European Parliament on Thursday approved the application submitted by Finland to the European Globalisation Adjustment Fund (EGF) in June.

The funds will be used towards services for workers made redundant. The services are aimed at re-employment in the retail sector or providing retraining for employment in an entirely different field.

“The Finnish economy is doing well right now, but globalisation and digitalisation are creating pressure for change in many sectors. The retail trade is going through a major transformation that inevitably also affects employment in the sector,” said Minister of Employment Jari Lindström.

“In the case of major job losses, we always try to make use of all possible forms of support, whether this is for the ICT sector, shipbuilding or the retail trade. The most important thing is to help people find new jobs,” emphasized Lindström.

Employment and training measures aimed at those made redundant and measures to help them start up in business are already being taken across the country. This is the first EGF project where the job losses are in all parts of Finland.

The amount spent on EGF-supported projects in Finland during the EGF’s ten-year history is a total of approximately EUR 40 million, including both EGF and national funding.

Finland has made use of EGF funding in connection with major job losses in the ICT sector in particular. In 2015–2016, Finland applied for more EGF funding than any other EU Member State.

In EGF-supported projects, the EU’s funding share is 60 per cent and the national contribution is 40 per cent. In cases of major structural change, EGF support is granted for active employment policy measures, such as different forms of training, education, promotion of mobility, pay subsidies and start-up grants.