Can short-time working save jobs during the COVID-19 crisis? 05/05/2020
"On 2 April, European Commission President Ursula von der Leyen announced a new fund of up to €100 billion to support EU Member States to introduce short-time working or similar schemes, including for the self-employed, in an effort to safeguard jobs during the COVID-19 pandemic. Known as SURE (Support to mitigate Unemployment Risks in an Emergency), the initiative will finance loans on favourable terms to EU countries facing a ‘sudden and severe' rise in spending on such schemes and is designed to show EU solidarity with hard hit Member States and workers. While EU support for short-time working schemes is something new, the use of such schemes to cushion the impact of economic crisis is not; similar approaches were used by many Member States during the Great Recession."
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