European Fund for Transition to support more workers made redundant
- European Fund for Transition (EFT) to be more future-oriented, addressing adverse effects of digitalisation and automatisation
- A company will be eligible for EFT support once 200 jobs have been lost
- Plenary closes the first reading
Parliament voted to reform the European Globalisation Adjustment Fund supporting workers dismissed due to globalisation, technological or environmental changes.
MEPs changed the name of the fund from the European Globalisation Adjustment Fund to the European Fund for Transition (EFT) and want it to remain an emergency and solidarity tool. They broadened its scope so that the fund would address the adverse effects of globalisation and technological transitions, like digitisation and automatisation, as well as the transition towards a resource-efficient economy.
In addition, Parliament lowered the dismissal threshold, which means there must be 200 redundancies or more before a company in a member state can submit an application to the EFT.
The text closing the first reading in the Parliament was adopted with 570 votes to 103 and 14 abstentions.
Procedure: Ordinary legislative procedure, mandate vote