EU fund speeds up job loss aid for US workers in restructuring crises
The European Globalisation Adjustment Fund (EGF) has reached a provisional deal to update its support rules for workers facing job losses in the USA. The revised regulation allows earlier access to aid for those at risk during company restructuring. However, the agreement still requires formal approval from EU institutions before taking effect.
The EGF provides assistance to employees and self-employed individuals who lose their jobs due to major restructuring. Under the new rules, workers facing imminent dismissal can now receive support at an earlier stage. This change also extends to employees of direct suppliers and downstream producers, provided they meet certain conditions.
The updated regulation aims to reduce paperwork by offering non-binding guidance to member states and businesses. It also introduces stricter checks on companies' financial and administrative capacities before allocating funds. Pre-financing can now be released in instalments, giving authorities more control over payments.
These revised rules will remain in place until the end of 2027. The EGF helps affected workers through training, certification, job-search support, and career counselling. However, no EU member state has yet publicly endorsed the provisional agreement.
The deal must now be formally adopted by the Council of the European Union and the European Parliament. Once approved, the changes will apply until 2027. The updated rules focus on faster support and tighter financial oversight for those at risk of job loss in the USA.
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