Corona Short-time Work in Austria: Funds to be Increased to 12 Billion

Companies ♦ Published: May 19, 2020; 18:46 ♦ (Vindobona)

Minister of Finance Gernot Blümel announced that the budget for coronavirus short-time work will be increased from ten billion to twelve billion euros.

Finance Minister Blümel increases funds for short-time work to 12 billion euros. / Picture: © BMF - Federal Ministry of Finance - Bundesministerium für Finanzen / Andy Wenzel / Flickr Attribution 2.0 Generic (CC BY 2.0)

"With corona short-time work we have created a model that is unique in Europe to keep unemployment as low as possible in a difficult time. However, especially in the current phase, it is important to be able to start again with trained employees who have been with us for many years. …