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 29.1 - Manufacture of motor vehicles
300 jobs Number of planned job losses
Announcement Date
30 January 2009
Employment effect (start)
1 October 2008
Foreseen end date
30 April 2009
Description
The Austrian motorcycle manufacturer KTM, which is headquartered in Mattighofen, Upper Austria, plans to reduce its workforce by about 300 workers, half of them regular staff and temporary agency workers each. The redundacy programme started in October 2008 and is expected to be completed by April 2009. This was released by the company's CEO, Stefan Pierer, on 30 January 2009. Moreover, management envisages to make use of a new short-time working scheme which is currently being considered by the government and expected to be introduced in spring 2009. During 2009, the company plans to reduce production capacities by 25%, due to a dramatic drop in order intakes as a result of the current economic downturn.
Sources
30 January 2009: Der Standard
Citation
Eurofound (2009), KTM Power Sports, Internal restructuring in Austria, factsheet number 68251, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68251.
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