Wolford Accelerates Its Cost Reduction Program

Press Wire ♦ Published: October 16, 2017; 09:21 ♦ (Vindobona)

Wolford AG, which is listed on the Vienna Stock Exchange, is accelerating implementation of its cost reduction measures, as previously announced. This mainly involves the downsizing of its administrative staff. Since July 2017 Wolford has already decreased its workforce by 41 full-time positions, partly by natural attrition or by not filling vacant positions. The personnel level at company headquarters in Bregenz is being reduced by a further 15 employees in the middle of October.

Wolford Accelerates Its Cost Reduction Program / Picture: © Vindobona.org

As a result, Wolford has cut down on its total staff by 56 full-time employees
since the beginning of July, resulting in expected cost savings of more than EUR
3 million annually which should be fully effective starting in the 2018/19
financial year. Wolford had 1,544 full-time employees in the 2016/17 financial
The streamlining of the administration…

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