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Minister: Job preservation subsidies could save 50,000 workplaces

  A HUF 30 billion job preservation package, financed with EU funding and approved by a cabinet meeting on Wednesday, could prevent 50,000 layoffs, state secretary at the Social and Labor Affairs Ministry Judit Székely said on Thursday.

Companies under pressure to make layoffs may apply for “4+1 day” grants, which cover wage costs of every fifth work day for up to half of total staff or at most 25,000 employees.

Companies that apply for the temporary support must meet two conditions: they must not have made any layoffs over the past two years, and they must ensure that workers affected by the wage support subsidy participate in training programs once a week.

Micro-businesses and SMEs may apply for HUF 20 billion of the funding. HUF 10 billion will be made available to big companies.