European Commission (EU) has proposed to release 2.6 million euros to help ex-Nokia employees laid-off due to restructuring in Nokia Networks. The grant will come from European Globalisation Adjustment Fund (EFG).

Nokia Networks slashed some 821 jobs blaming global competition. This fund will be used in re-skilling and start-up grants for these ex-Nokia workers. This will help them in landing up with new jobs and start their own ventures.

The EU’s Commissioner for Employment, Social Affairs, Skills and Labour Mobility, Marianne Thyssen, said the decision would go toward helping former Nokia employees develop their skills in finding new jobs and help them cope during their employment transition period.

Finland had applied for the EGF funds after Nokia and three subcontractors announced 945 job losses. The EFG is meant to assist workers who lose their jobs due to global financial and economic crises or structural changes in the world economy.

Source: Yle