MEPs endorsed a Commission proposal to mobilise €2 million from the European Globalisation Adjustment Fund for Displaced Workers (EGF) to support 507 workers who lost their jobs following the bankruptcy of Liberty Steel Belgium, a manufacturer of basic metals, in April 2025. The report passed with 586 votes in favour, 48 against, and 16 abstentions.
The funds will finance career counselling and guidance, vocational training, including IT skills, and help those wishing to start their own businesses. The total cost is estimated at €2.4 million, of which 85% (€2 million) will be covered by the EGF and 15% (€0.4 million) by the Walloon public employment services. The Belgian authorities disbursed support funding for the workers in June 2025, the costs of which will be retroactively covered by the EGF aid.
MEPs note in the report that Liberty had faced years of financial difficulties prior to its bankruptcy, caused by adverse steel market conditions, supply chain disruptions, and high energy prices. MEPs also say the difficulties faced by Liberty Steel are also linked to company-specific factors following its acquisition from ArcelorMittal by its previous owners, the GFG Alliance. Serious concerns about the financial sustainability of the business model, and the failure to deliver on investment commitments have, MEPs say, contributed to the plant’s deteriorating economic situation.
Background
The European Globalisation Fund supports displaced workers and self-employed people who have lost their jobs due to unexpected major restructuring events. Member states can apply for EU funding when at least 200 workers are made redundant within a defined reference period. Any proposal by the Commission to mobilise funds must be approved by the European Parliament and the Council. Since 2007, The EGF has helped more than 181,000 people in 20 member states, with €727 million disbursed.