Voestalpine to implement short-time work model due to coronavirus

Tuesday, 24 March 2020 12:30:32 (GMT+3)   |   Istanbul
       

Austrian steelmaker Voestalpine has said in a press release that it will start a short-time work plan in Austria and at almost 50 European Group companies, including companies in Germany, Belgium, and France, in the coming weeks to make the company flexible and secure jobs as much as possible during the challenging period caused by the coronavirus outbreak.

The company stated that the global economy has been affected by the coronavirus and its consequences in many aspects. Accordingly, Voestalpine and its customers are facing major economic difficulties. Massive capacity reductions and production halts in the automotive, mechanical engineering, aerospace and oil and natural gas sectors have led to a sharp decline in demand from the company’s major customer segments.

The federal government of Austria has introduced the short-time work model which offers companies the opportunity to reduce normal working hours temporarily in order to overcome the coronavirus crisis. Accordingly, Voestalpine will implement the short-time work model in almost all group companies in Austria, while it plans to carry out similar models in Europe. The company has provisionally closed its sites in many countries such as France, Italy, Brazil, Peru and the US.

Voestalpine said that these measures have been taken in order to minimize the negative impact on the company and its employees as much as possible, while it added that it is making great efforts to protect its employees’ health. Voestalpine said it will announce the extent of this short-time work model in the coming weeks.


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