The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.10 - Manufacture Of Motor Vehicles
200 jobs Number of planned job losses
Announcement Date
31 July 2024
Employment effect (start)
31 July 2024
Foreseen end date
Description
Steyr Automotive, headquartered in Steyr, has announced a reduction in its workforce of 200 employees due to a decline in orders that cannot be offset by internal adjustments.
This latest development follows a series of reductions implemented since investor Siegfried Wolf assumed control of the plant three years ago, following MAN's initial closure plans. The company's production has decreased by 20% across all sectors, necessitating further staff reductions. The number of employees at the former MAN plant is expected to fall below 1,000, down from over 2,000 three years ago. The decline is also attributed to weak demand for electric trucks.
In response, the local mayor, Markus Vogl, has called for an industrial summit to explore future prospects and improve conditions. Staff were informed of the job cuts just before the summer break. The labour market service (AMS) has been notified about the layoffs.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
