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Globalisation fund: Budgets Committee backs aid to Austria

A total of 744 people lost their jobs at 9 automotive enterprises in the Austrian region of Styria (Steiermark in German) between August 2008 and May 2009. Of these, 400 are to receive assistance.

According to the Austrian authorities, these job losses are due to the rapid decline in worldwide demand for cars, caused by the financial and economic crisis.

The Land of Styria suffers from structural weaknesses, in particular a relatively small share of the services sector, an export-oriented economy and a high dependence on the demand in the automotive sector.

The support will cover costs for employment assistance, screening, short- and long-term professional orientation, individual coaching, individual qualifications and training and subsistence allowance. The total cost is expected to be €8,777,900, of which the globalisation adjustment fund would cover €5,705,635.

Press Release European Parliament