The European Commission has announced that more than €2.4 million in funding has been approved to assist individuals in Portugal with finding employment.

Issued under the European Union (EU) Globalisation Adjustment Fund, the money will be used to assist 839 workers made redundant from the semiconductor industry in the country.

An application from the Portuguese government has been approved by the executive and will now be proposed to the European Parliament and the Council

The former industry employees worked for Qimonda Portugal until the firm applied for insolvency as a result of production ceasing at a factory in Germany supplying it with raw materials.

EU commissioner for employment, social affairs and inclusion Laszlo Andor stated: "Today's decision will help the former Qimonda workers on the road to a new job through training and support to give them new skills."

The European Commission has also approved an application for funding worth over €2.7 million to help 1,429 redundant car workers in Spain.

Posted by Alex Donnell