Massive Austerity Cuts at Porr

Business › n.a. ♦ Published: July 2, 2012; 14:36 ♦ (Vindobona)

The third-biggest Austrian construction company examines its cost structure. First effects should be visible still in 2012.

Massive Austerity Cuts at Porr / Picture: © Porr AG

Porr plans to cut expenses drastically. Above all, personnel costs should be lowered. Last week 71 employees were laid off. At the moment, Porr has a workforce of 11,000 staff members.

CEO Karl-Heinz Strauss wants to achieve savings of € 100m. „These are the first results of the program „fit for future“.“ Strauss underlines that about 60% of the saving measures will be…

or Log In

Fast News Search
Related News
B&C Industrieholding to Sell Major Stake in Porr (June 5, 2012)
Porr Urgently Needs New Capital (May 1, 2012)
Drastic Losses at Porr (April 30, 2012)
Porr Takes over German TKDZ (February 17, 2012)
Porr Extends Capital Increase (February 2, 2012)
Read More
Porr, Construction Industry, Karl Heinz Strauss, Austerity, M & A, Bank Austria, Capital Markets, Equity Markets, VIG Vienna Insurance Group, B & C Industrieholding
Featured
See latest Vindobona Newsletter