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Big companies now eligible for EU job-preservation program

Big companies can participate in the EU's 4+1 job-preservation program from the end of August, National Development and Economy Ministry State Secretary László Varjú said on Thursday.

Employees of companies participating in the program will receive a five-day salary, though the wage for the fifth day must not exceed 350% of the minimum wage per workday.

Varjú said companies can first apply for HUF 2.5 billion (€9.18 million) from the HUF 10 billion program. About HUF 1.75 billion will be available in convergency regions, while HUF 750 million would be used in counties located in central Hungary.

A participating company or cooperative is eligible to receive up to HUF 600 million and up to 100% support. All companies employing more than 250 people are eligible for the program.

The government decided to launch the 4+1 program in Hungary with a budget of HUF 30 billion in February. The National Development Agency announced a tender for HUF 20 billion of the funding for SMEs yet in the spring. Now the remaining HUF 10 billion is tendered for big companies. (MTI-Econews)