KTM Parent Company Pierer Mobility will Axe more Jobs
We reported in July that Pierer Mobility – the parent company for KTM, Husqvarna, GasGas and WP Suspension, besides 50.1% owner of MV Agusta – is set to cut jobs. However, the company did not specifiy the number of employees who will lose their jobs.
Now, it has been reported that 200 employees will be axed in the third quarter of 2024. These poor souls are the latest addition to the 373 who were already let go since the start of 2024.
Pierer Mobility is also planning to decrease their Austrian manufacturing quota by 25%, besides focusing on higher manufacturing numbers in India and China. Additionally, they are planning to reduce their sporting activities.
These plans follow lacklustre sales which has since seen the company’s net debt rise to €1.469 billion (RM7.21 billion). They had earlier confirmed that performance in the first half of 2024 had dropped compared to previous years. Overall sales for 2024 is also expected to drop by 15%.
Currently, Pierer Mobility has a total of 6,024 employees, after adding the 213 resulting from their consolidation with MV Agusta.
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