OPA News Release: [11/23/2010]
Contact Name: Lina Garcia or Mike Trupo
Phone: 202-693-4661 or 3414
Release Number: 10-1611-BOS
US Department of Labor announces $2.6 million to continue aid for Massachusetts workers impacted by financial industry layoffs
WASHINGTON - The U.S. Department of Labor has announced a $2,579,730National Emergency Grant increment to Massachusetts to continue providing services to workers affected by layoffs in the financial industry. More than 700 workers will be served under this funding.
"Many front-line financial industry workers in Massachusetts are in the process of upgrading their skills and preparing for new careers. These funds will help them re-enter the workforce in positions that pay good wages and offer opportunities for advancement," said Secretary of Labor Hilda L. Solis.
This second increment is awarded to the Massachusetts Department of Workforce Development. Funds will be used to continue the delivery of re-employment assistance to approximately 450 workers currently receiving services and 274 additional participants.
On Jan. 19, 2010, a grant was awarded for up to $3,874,594, with $1,294,864 released initially. The grant is serving workers affected by layoffs resulting from the elimination of positions, the closing of branch offices, and mergers and acquisitions among seven financial services companies.
National Emergency Grants are awarded at the discretion of the secretary of labor based on a state's ability to meet specific guidelines. For more information, visit http://www.doleta.gov/NEG.