The European Commission approved, on December 13, 2007, Malta's request to get help from the European Globalization Adjustment Fund (EGF). The EGF's contribution, of more than 600.000 Euros, is aimed at helping 675 employees from the Maltese textile sector, who were dismissed, to find a new job. (Ref. 071020)
The EGF help request was introduced after two Maltese textile manufacturing companies decided to end their activity, VF and Bortex. VF, which depends from the multinational company VF Corporation, shut its factory in the country in July 2007, causing 562 layoffs, while Bortex decided to abandon some of its activities last September, causing 113 labour losses. Given the small size of the Maltese labour market, these layoffs represent 0.4% of the country’s active population. The total cost of the
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