The European Union has proposed a €2.5m fund for former Stockmann and Anttila employees in Finland.
The aid will be paid from the European Globalization Adjustment Fund and will help to retrain 1500 workers at the companies who were made redundant. It can also be used to help former employees to set up their own business, or pay for travel and overnight accommodation while they are doing training courses, or searching for a new job.
Finland applied for the money when employees were dismissed by Finnish retail companies.
Anttila filed for bankruptcy in 2016 and stopped operations in early 2017. Staff at Antilla’s subsidiary, Valilla, also lost their jobs.
The number of customers in Stockmann’s department stores dropped by more than 40%, and sales fell 38% between 2012 and 2016. And now Stockmann continues to operated with a smaller number of employees.
The Commission’s financial proposal still needs to be approved by the European Parliament and the EU Council of Ministers.
The EU’s Globalization Fund was launched in 2007.