The European Commission has suggested mobilizing €8.7 million from the European Globalization Adjustment Fund (EGF) to help more than 1,600 workers that were laid off in media sectors such as broadcasting, programming, and publishing in Attica, Greece. The funding was requested by the Greek authorities to help the workers that were made redundant in their transition to new jobs. The proposal is now heading to the European Parliament and the EU’s Council of Ministers for approval.
Marianne Thyssen, EU Commissioner for Employment, Social Affairs, Skills and Labour Mobility commented that this decision would help more than 1,600 people to find new jobs. “Greek workers are going through a difficult period and we must use all the tools we have at our disposal to provide assistance. I am happy we have been able to respond positively to Greece’s request for EGF support to the redundant workers” she added.
Precisely 1,633 jobs were lost in the media sector due to the difficult financial and economic crisis that affected the Greek economy. The measures, co-financed by the EGF, are meant to help the redundant workers find new jobs by providing them with vocational training, entrepreneurial skills, and career guidance. They will also be given allowances and contributions if they decide to establish a start-up. All the laid-off workers are expected to take part in the EU-funded program. The whole package will cost about €14.6 million, of which the EGF would cover €8.7 million.
Between 2009 and 2012, many mass media firms stopped their operations and downsized as the sector shows shrinkage. The lower revenues are mainly a result of lower advertising revenues, which normally are among the main sources of income for mass media companies. In 2012, advertising expenditure was about €1.14 billion, while in 2008 it was approximately €2.67 billion.
