S&T Reduces Jobs

CompaniesTechnology ♦ Published: April 7, 2011; 07:55 ♦ (Vindobona)

The ailing Austrian software company has to reduce a quarter of its staff in the current year. There are also problems in Germany and Switzerland.

S&T Reduces Jobs / Picture: © Vindobona.org

Of the 240 employees of S&T, 70 will have to leave the ailing company by May. The restructuring measures are currently underway, after the financial situation was temporarily stabilized in February due to credit grants by the banks.

Edward Bugelnig, CEO of S&T Austria says: "The restructuring measures affect mainly the management levels and the administrative departments…