On April 24, 2024, following approval from the European Commission and the Council of the European Union, the European Parliament approved the German application for support for dismissed employees of Vallourec Deutschland GmbH from the European Globalization Adjustment Fund for displaced workers (EGF). The EGF funds, co-financed by the EU to the tune of almost EUR 3 million, will actively support the reintegration of over 1,500 redundant employees into the labour market.
Vallourec Deutschland is a manufacturer of seamless hot-rolled steel tubes used in the energy sector, machinery and plant construction, as well as steel construction. The layoffs at Vallourec were preceded by a prolonged negative financial situation at the company. Despite extensive restructuring measures, the company failed to improve its financial situation. In light of this, Vallourec decided in 2021 to cease production at its German plants in Mülheim an der Ruhr and Düsseldorf. The associated layoffs are to be seen in the context of structural changes in the global trade landscape as well as the structural transformation in the Ruhr area.
For those affected, the layoffs represent a profound disruption to their employment biography. Despite years of company loyalty, some of them possess outdated qualifications or qualifications profiles not adapted to the changed labour market structure in the Ruhr area, further complicating their professional reorientation. This is where EGF support comes in, creating new perspectives for those affected. Specifically, the EGF enables tailored qualifications, counselling, vocational preparation and orientation, as well as further measures for skill acquisition and labour market integration. The funding has a total volume (including national contribution) of around 5 million EUR. The transfer agency START NRW GmbH will carry out the implementation of EGF support measures.