Voestalpine adjusts Europe production in response to Covid-19 crisis [UPDATED]

Austrian steelmaking group Voestalpine will enforce shorter working hours across its operations in Europe as part of short-term work model amid the coronavirus (2019-nCoV) pandemic, the company said on Monday March 23.

The coronavirus pandemic has already hit the heart of the European economy. Widespread closures of car-manufacturing sites across Europe, as well as shutdowns and capacity cuts in the aerospace, mechanical engineering, and oil and natural gas industries have axed demand in Voestalpine’s key customer segments.
Voestalpine applied the short-term work model offered by the Austrian Federal government - enabling a temporary reduction in normal working hours for almost all of its companies in Austria - and will apply similar models across its sites in Europe.

“The actual extent of short-time work will become clear over the next few weeks and will be...

Published

Julia Bolotova

March 24, 2020

17:45 GMT

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