KTM before bankruptcy: concerned about your future!

KTM before bankruptcy: concerned about your future!

The traditional Austrian brand KTM is facing a massive crisis: The motorcycle manufacturer submitted an bankruptcy application to the regional court in Ried on Friday. The company has debt of around 1.8 billion euros, a total of around 3,600 employees, including 2,380 direct employees, 1,181 workers and 213 apprentices, such as today reports. A renovation process with self -administration is planned, which has already taken the first steps.

The renovation guard Peter Vogl also announced that KTM AG and its subsidiaries should be continued, such as "https://www.nachrichten.at/wirtschaft/insolvenzvergter-erwartet-nach-erbungungen-ktm-tm- Fort15,4005222" Nachrichten.at . Company meetings for information from the workforce have started in Mattighofen as well as the places of Munderfing and Schalchen. In it, the employees are informed about their rights as part of the insolvency proceedings. The Upper Austria Chamber of Labor is on site and takes care of the necessary applications from the bankruptcy fund to ensure salary payments. However, it could take up to six weeks for the money to actually be available.

company meetings and salary questions

On Monday, two company meetings were already taking place in which the employees were informed that they should receive their November and Christmas bonus from the insolvency fee fund. KTM also intends to pay the December wages prematurely, which should be a small relief for the employees. The Chamber of Labor takes over the calculation and application for claims for each of the affected members, while the entire applications are forwarded to the regional court and the responsible insolvency administrators.