Voestalpine: Short-time Work in 50 European Subsidiaries

CompaniesOther ♦ Published: March 24, 2020; 21:39 ♦ (Vindobona)

The biggest economic challenge of the past decade represented by the coronavirus pandemic has hit the Austrian technology group Voestalpine hard. Short-time work in Austria and other European countries such as Germany, Belgium and France is unavoidable due to the slump in demand.

CEO Eibensteiner: "Over the next few months, we will fight hard for every single job." / Picture: © voestalpine AG

Due to massive capacity reductions or current production stoppages in the automotive, aviation, mechanical engineering and oil and gas industries, demand in Voestalpine's most important customer segments collapsed within a few days.

In order to ensure the necessary flexibility in the coming weeks and to secure jobs in the company as much as possible in this difficult situation, short-time work is currently being announced in around 50 European Group companies (in addition to Austria, in Germany, Belgium and France, among others). …