Home » HR practices » Professional development » Legal developments » European legislation » Regulation creating European Globalization adjustment fund is adopted Regulation creating European Globalization adjustment fund is adopted Helping employees, not companies (Article 1): for the Commission, the creation of this fund must make it possible to answer, at the European level, employees’ needs, given the consequences of globalization "the fund must help employees, not companies", underlines the Commission. The fund will help people who suddenly lose their job, and must offer a fast response to specific, well defined problems related to restructuring. The fund would finance employees’ vocational training, reclassification or reintegration. Through . Published on 02 March 2006 à 9h33 - Update on 02 March 2006 à 9h33 Resources by the fund. Helping employees, not companies (Article 1): for the Commission, the creation of this fund must make it possible to answer, at the European level, employees’ needs, given the consequences of globalization “the fund must help employees, not companies”, underlines the Commission. The fund will help people who suddenly lose their job, and must offer a fast response to specific, well defined problems related to restructuring. The fund would finance employees’ vocational training, reclassification or reintegration. A link to globalization (Article 1): all forms of restructurings will not be taken into account: the fund is a tool designed to cure only the economic and social shocks resulting from globalization (dislocation,… Need more info ? Contact mind's on-demand study service Which service do you want to contact :WritingCommercial serviceTechnical SupportFirst name Last name Organization Function email* Object of the message Your messageRGPD J’accepte la politique de confidentialité.NameThis field is for validation purposes and should be left unchanged. Essentials Les dernières publications Supporting parenthood in the workplace: a win-win strategy Supporting employee carers: a CSR challenge Analyzes Les dernières publications Paternity leave: data observations from 41 countries EU: during H1 2022 five EU Member States have raised their minimum salary levels