Downsizing deals - Bulgaria gets aid for Kremikovtzi layoffs

Reading time: min

Novinite reported that laid off workers of Bulgaria's steel giant Kremikovtzi will be re trained and motivated with money from the European Globalization Adjustment Fund.

As per report, Bulgaria is going to get BGL 5 million from the European Globalization Adjustment Fund in order to help the workers laid off from its ailing steel giant Kremikovtzi to find new jobs.

Thus, the several thousand workers who might be laid off from the bankrupt steel plant could be enrolled in qualification courses with the Labor Ministry including motivation training, professional orientation, subsidized employment for people over 50, and a small grant of BGL 10 000 if they want to start a business.

Mr Totyu Mladenov Labor Minister explained that the EGAF required 35% co financing by the state. The report added that the money from EU's Globalization Adjustment Fund cannot be used for paying unemployment benefits.