European Union allocates USD 4.1 MN to support 297 former Airbus employees

The European Union will provide USD 4.1 Mn to 297 former employees of the European corporation Airbus in France. The money has been allocated to support those who lost their jobs due to the pandemic. 

According to a report carried out by ANI, Airbus rolled out a restructuring plan in 2020 to cope with the effects of the pandemic on the business, which caused the company to lay off thousands of workers. The report further stated that the French government took efforts to reduce the number of layoffs to 2,246.

The European Globalisation Adjustment Fund (EGF) for Displaced Workers has been overseeing the support initiative since the Commission proposed this in November 2021. 

The statement by EGF read that 85% of the estimated funds will be covered by them while the rest has to be paid by Airbus. 

The appeal by the French government initially covered 508 people out of which 297 workers are going to get the support. While 40 lawmakers in the committee voted in support of the decision, only one voted against it.