Massive Austerity Cuts at Porr

Businessn.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…