Individuals in Austria who have lost their jobs in the country's printed circuit board (PCB) manufacturing and base metal industry are being provided with European Union (EU) support.

The European Commission has allocated a total of €9,506,036 in response to two requests from the Austrian authorities.

It is intended to assist 356 workers made redundant from basic metals companies and 74 former members of staff of a leading maker of PCBs to secure new employment.

The funds from the EU Globalisation Adjustment Fund (EGF) will be spent in the provinces of Styria and Lower Austria, both of which have been affected by the economic downturn.

"When the economic and financial crisis comes in addition to structural changes of a region's economy, the impact on workers can be very serious," commented Laszlo Andor, EU commissioner for employment, social affairs and inclusion.

In related news, the European Commission has announced that it is planning to continue providing funds through the EU Globalisation Fund until 2013, in order to support people losing their jobs as a result of the economic crisis.

The Brussels-based executive has made the decision to expand its assistance beyond an initial end date of December 30th 2011.

Posted by Alex Donnell