The European Globalisation Adjustment Fund (EGF) has granted Finland 2.6 million euros to support workers made redundant by network giant Nokia. The money is intended to bolster their efforts to find new work. Finland applied for EGF funds in November.
Last year over 1,000 Nokia employees lost their jobs.
Redundancy talks are not over at Nokia, which announced in early May that it plans to cut another 200 jobs.
In recent years Finland has particularly sought EGF support for those pink-slipped in the IT sector. EU officials are now weighing another EGF application from Finland, this time for individuals made redundant by Microsoft – most of whom were ex-Nokians.
Microsoft bought Nokia's mobile phone business in 2014, hiring some 25,000 Nokia employees, nearly all of whom later lost their jobs when the US tech giant pulled out of the phone business.
Relief on the way for retail jobseekers?
The government plans to soon file EGF applications to benefit more than 1,600 people who lost jobs at the department stores Anttila and Stockmann. This will be Finland’s first application aimed at helping people from the retail sector.
The EU established the EGF in 2006 to advance the re-employment of people who lose their jobs as a direct result of trade liberalisation and globalisation.