The European Commission proposes a grant some 2.6 million euros to support 821 former Nokia Network Systems employees in Finland as they find new jobs. The money would come from European Globalisation Adjustment Fund (EFG).
The EFG is meant to assist workers who lose their jobs due to global financial and economic crises or structural changes in the world economy – for example when a large corporation shuts down or moves operations out of the EU.
The funding is meant to be used towards career coaching, education and start-up grants for affected workers.
The EU's Commissioner for Employment, Social Affairs, Skills and Labour Mobility, Marianne Thyssen, said the decision would go toward helping former Nokia employees develop their skills in finding new jobs and help them cope during their employment transition period.
Finland applied for the EGF funds after Nokia and three subcontractors slashed 945 jobs. The companies blamed the job losses on increased global competition. According to the EU statement, "these job losses were the result of fierce competition between the Finnish ICT sector and its competitors".
