EU aid totaling 2.95 million euros is to be received by hundreds of Greek former retail employees

A proposal submitted by the Budgets Committee, according to which 2,949,150 euros are to be given to 725 former employees who were laid off by nine companies in Greece has been approved on Thursday by the European Parliament.

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

Sixty percent of the total cost will be covered by this aid of the European Globalisation Adjustment Fund (EGF).

85,2 percent of the workers affected are above 55 years old, in which age it might be difficult to find a new job.

Through the years of the economic crisis between 2008 and 2015, the purchasing prower of the Greek households has declined which made retails suffer. Retail sales dropped by up to 60 percent in parts of the sector according to the Greek National Bank. The redundancies have affected 11 regions across the country, with Crete and Central Greece included.

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