|Author (Corporate)||European Commission: DG Employment Social Affairs and Equal Opportunities|
|Content Type||Key Source, Overview|
The European Globalisation Adjustment Fund provides support to people losing their jobs as a result of major structural changes in world trade patterns due to globalisation, e.g. when a large company shuts down or production is moved outside the EU, or as a result of the global economic and financial crisis.
The EGF has a maximum annual budget of EUR 150 million for the period 2014-2020. It can fund up to 60% of the cost of projects designed to help workers made redundant find another job or set up their own business.
As a general rule, the EGF can be used only where over 500 workers are made redundant by a single company (including its suppliers and downstream producers), or if a large number of workers are laid off in a particular sector in one or more neighbouring regions.
EGF cases are managed and implemented by national or regional authorities. Each project runs for 2 years.
|Subject Categories||Employment and Social Affairs|
|Countries / Regions||Europe|