Dutch government extends deadline for labour time reduction plan
Deadline to apply is March 21st
In an effort to assist companies during the current financial crisis and prevent layoffs, the Dutch government has extended its measure to partially reimburse companies forced to temporarily reduce the working time of staff. New deadline for companies to apply for this assistance - known as Arbeidstijdverkorting (ATV) - is March 21st. To date, more than 500 companies have applied for assistance.
The government has budgeted €200 million for this effort to replace "lost salary." Companies interested in the program will need to meet certain criteria, including:
- Companies must report a loss of at least 30 percent for the two months prior to applying for ATV funds. The percentage will be compared to the same time frame as the previous year.
- The company should assist affected workers with temporary schooling or job placement with another company.
- The affected employees must have their working time reduced a minimum of 6 weeks, but that period can be extended to 24 weeks.
- The percentage of affected employees should be equal to the percentage of the loss in turnover.
- The employees must stay on the company payroll. The government will pay the unemployment subsidy directly to the company.
Only companies already established in the Netherlands are eligible for ATV funds. The application form and guidelines are printed in Dutch only. The weblink (also in Dutch) to download the application form can be found here.
Current investors interested in applying can contact their local NFIA office for further information. NFIA UK & Ireland: +44 (0) 20 7225 1074.
27 February 2009
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