A more agile European Globalisation Fund for Europe’s workforce

Renew Europe welcomes the adoption of a revised, faster and more flexible, European Globalisation Fund (EGF) for displaced workers, adopted in plenary on Tuesday.

In times where expected job cuts and large-scale restructuring are exceeding job creation, particularly in sectors such as retail, manufacturing and energy intense industries, it is vital to turn the tide and ensure that the EGF is fit to respond to the challenges workers face today.

We are therefore pleased that the updated Fund will also proactively supports workers before they are made redundant. This will boost proactive support for individuals as they reskill and facilitate them to transition to different job opportunities in their current company or find new employment in strategic and future-oriented sectors even before they lose their jobs. This boosts Europe’s competitiveness and helps to reduce the intensity and cost of unemployment measures. We are particularly pleased that we also ensured that annually, a minimum 40% of the revised Fund will be ringfenced for ‘classic’ cases where workers have already lost their jobs.

However, we do regret that the Fund will end in the next MFF and will work hard to ensure that there will continue to be support for redundant workers in one way or another within the new MFF framework.

Grégory Allione, (Renaissance/France) has represented Renew Europe in the negotiations.