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14 December 2017
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EU grants almost €3B aid to laid off Greek employees

01 December 17 - RE+D Magazine
EU grants almost €3B aid to laid off Greek employees

COMPANIES

Savills

Consultant - GREECE

IBI Group

Consultant - GREECE

Solum Property Solutions

Consultant - GREECE

ETAD.A.E.

Public entity - GREECE

PEOPLE

Antulio Richetta

Director IBI Group
The European Parliament approved on Thursday a proposal by its Budgets Committee to pay EU aid worth 2,949,150, euros to 725 former employees laid off in Greece by nine companies.

 

The workers concerned had all been employed in supermarkets or retail shops, selling household appliances or food, owned by nine different businesses.

The aid from the European Globalisation Adjustment Fund (EGF) will cover 60 percent of the total cost.

Of those individuals affected, 85.2 percent are above the age of 55, an age at which it may become more difficult to find a new job.

Between 2008 and 2015, the retailers suffered from the decreasing purchasing power of Greek households, due to the economic crisis.

According to the Greek National Bank, retail sales dropped by up to 60 percent in parts of the sector. Across the country, 11 regions, including Crete and Central Greece, are affected by the redundancies.

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