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ORF saves 300 million: Golden Handshake for over 300 high earners!
Find out how ORF sends over 300 employees into early retirement with Golden Handshake. A savings package of 300 million euros is imminent.
ORF saves 300 million: Golden Handshake for over 300 high earners!
Austrian Broadcasting Corporation (ORF) is planning a far-reaching step to overcome its financial challenges. Over 300 older, high earners are expected to have one Golden handshake be sent into early retirement. This decision comes into force because the government has frozen the budget levy until 2029, which dictated urgent savings to ORF.
The company's total savings package amounts to around 300 million euros. The affected employees, male born before 1966 and female before 1967, receive 55 percent of their final salary up to their pension entitlement, financed by ORF. Anyone who does not voluntarily opt for the Golden Handshake risks termination. oe24.at reports that the ORF press office has not yet provided any information about which employees may have received the offer.
At the center of controversy
A prominent face who may be affected by this program is Armin Wolf, the presenter of the ORF news. Born in 1966, he is at the age limit for the offer. Wolf, who is ORF's highest-paid journalist with an annual salary of 266,855 euros, is known for his sharp interview style, which is often criticized. More than half of television viewers find ORF's reporting to be unbalanced. Critics accuse Wolf of conducting interviews like interrogations and neglecting important topics.
While Wolf is the focus, Pius Strobl, another ORF manager, is not affected by the Golden Handshake program. Strobl, who was born in 1956 and earns an annual salary of 451,710 euros, has a contract until the end of 2026 and is praised for his work in restructuring ORF. His role in the “Light Into Darkness” project is also worth noting, in which he successfully manages the company without major cost overruns.
Financial challenges at ORF
ORF's financial difficulties are part of a larger problem. Other areas could also be affected by austerity measures. Loud orf.at Among other things, educational leave, climate bonuses and tax breaks for electric cars are on the cross-list. Experts warn that the savings potential in 2025 could be lower than originally planned.
The FPÖ and ÖVP coalition negotiators have different views on these austerity measures, which are aimed at avoiding an EU deficit procedure. The status of negotiations and details of the savings plans will be announced in the coming days, although an early agreement cannot be ruled out.
Overall, the ORF remains faced with a multitude of challenges: staff cuts, increasing public criticism and the pursuit of financial stability are setting the course for the company's future.