The European Union has granted approval of Audi‘s acquisition of Ducati, removing any legal barriers to the sale. The approval was expected, but an official decision was nevertheless required before the transaction could proceed. The acquisition was announced in April but the deal was still subject to examination by anti-trust authorities. That approval came June […]
European Union Providing 2.7 Million Euros in Support to Laid-Off Italian Motorcycle Workers
The European Union Council has decided to provide €2.7 million (US$3.5 million) in support for unemployed employees of motorcycle manufacturers in Italy.
The funding is through the E.U.’s European Globalisation Adjustment Fund (EGF), a program established in 2009 in the wake of the global economic crisis which helps provide assistance in finding new jobs and receiving career training. The Italian workers are one of seven groups of beneficiaries, including Swedish workers from the bankrupt automaker Saab, that will receive a combined €24.3 million (US$31.7 million) in aid.
Italy applied for the aid to support workers made redundant by ten motorcycle manufacturers and parts suppliers in the Emilia Romagna region. The initial application was for 512 workers and the E.U. Council agreed to a proposal to support 502 of those workers who remain unemployed. Presumably the other 10 have since found employment and are ineligible to receive aid. The Emilia Romagna region was also the area hardest hit by a 6.0-magnitude earthquake in May, so the support may be especially needed for some unemployed workers in the area.
The EGF funding will form most of a total €4 million in funding to support the 502 workers. They will be eligible to receive vocational guidance, training and re-qualification, job search assistance and a job-search allowance.