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Drastic cuts at STIWA: thousands of employees worried!
STIWA Group in Upper Austria is planning drastic savings and possible layoffs for 2,100 employees due to the weak automotive industry.
Drastic cuts at STIWA: thousands of employees worried!
The STIWA Group's engine is on the brink! The Attnang-Puchheim-based company is urgently looking for savings options and plans to temporarily lay off a large part of its 2,100 employees. This reports ORF OÖ. Their concerns are compounded by the bankruptcy of motorcycle giant KTM, which is dominating the headlines. 250 jobs had to be cut at the beginning of the year and now drastic measures are being taken again.
According to information from company management, employees could choose between various options: dismissals with a promise of re-employment, a temporary switch to part-time or a voluntary, temporary salary waiver. Discussions with the Employment Service (AMS) and the works council are in full swing. According to the works council, it is assumed that most employees will opt for temporary layoffs as the automotive industry is affected by a weak economy. Given the uncertainties, employees are looking forward to future developments with great concern, as STIWA produces essential parts and machines for the automotive industry, such as Today.at reported.
The uncertainty among employees is enormous. Recent developments are causing the workforce to fear for their future. While the management is trying to restructure the company through these measures, it remains unclear how the situation will develop in the medium term and whether the measures can bring the hoped-for stability.