April 30, 2020 / 9:21 AM / a month ago

Austria says 1.2 million people registered for layoff prevention scheme

VIENNA, April 30 (Reuters) - Roughly 1.2 million people in Austria are registered for a layoff prevention scheme under which firms can keep staff on their books while only paying for hours actually worked, Finance Minister Gernot Bluemel said on Thursday.

Bluemel told a news conference funding for that scheme was being increased to 10 billion euros ($10.9 billion) given the large number of registrations. Those registered equate to roughly a quarter of Austria’s workforce of 4.6 million people. ($1 = 0.9186 euros) (Reporting by Francois Murphy; Editing by Alison Williams)

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