The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.10 - Manufacture Of Motor Vehicles
200 jobs Number of planned job losses
Announcement Date
24 August 2024
Employment effect (start)
24 August 2024
Foreseen end date
Description
Pierer Mobility, based in Wels, Austria, has announced a further reduction of 200 jobs.
The company, formerly known as KTM Industries, cited declining sales in both its motorcycle and bicycle divisions as well as rising personnel costs as the main reasons for the decision.
This restructuring announcement follows the elimination of more than 300 jobs in the first half of 2024 Pierer Mobility-2023-AT.
In the first half of the year, motorcycle sales fell by 27% to €936 million, while bicycle sales fell by 36% to €69 million. In response, production volumes will be reduced by 25%, with further restructuring to improve results by the second half of 2024. As of 30 June 2014, the group employed 6,024 people, of which 4,712 were based in Austria.
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