|Author (Corporate)||European Commission|
|Series Details||COM (2015) 355|
|Content Type||Policy-making, Report|
The European Globalisation Adjustment Fund (EGF) is intended to provide support to workers made redundant as a result of major structural changes in world trade patterns. The EGF, which was set up by Regulation (EC) No 1927/2006, was designed to reconcile the overall long-term benefits of open trade for growth and employment with the short-term adverse effects which globalisation may have, particularly on the employment of the most vulnerable and lowest-skilled workers.
The EGF co-finances active labour market policy measures taken by the Member States to help redundant workers reposition themselves on the labour market and find new jobs. The EGF supplements national labour market measures where sudden collective redundancy processes put the public employment services under extraordinary pressure. It can provide a more personalised and targeted approach to the most vulnerable redundant workers.
|Subject Categories||Internal Markets|
|Keywords||European Globalisation Adjustment Fund [EGF]
|International Organisations||European Union [EU]|