Voestalpine: Halved winnings - 220 jobs in Germany deleted!

Voestalpine: Halved winnings - 220 jobs in Germany deleted!

Linz, Österreich - The Voestalpine, a leading steel and technology group based in Linz, faces considerable challenges. As reported krone.at , the company recorded a decline in sales to 11.7 billion euros in the third quarter of the 2024/25 financial year, compared to 12.4 billion euros in the previous year. Particularly alarming is the dramatic decline in profit after taxes, which halved to 207 million euros - a decrease of more than 50 percent compared to 415 million euros in 2023. The difficult economic framework in Europe, especially in the automotive industry, are clearly noticeable.

In order to cope with the difficult Situation, measures to secure competitiveness and jobs were taken in various production facilities, including Krieglach and Kapfenberg. Collective holidays and the reduction of overtime are just a few of the measures that have been implemented due to the tense market situation. In addition, the Automotive Components plant in Birkenfeld (Germany) is closed, which brings with it the loss of 220 jobs. CEO Herbert Eibensteiner emphasizes the need to actively manage and expand globally to ensure stability in this challenging time.

Economic strength of Europe