Update December 13, 2024
“Before Christmas, KTM sought to pass on 90% of December salaries to employees. This was promised to the employees. But now it won’t happen! The bankrupt Mattighofen corporation cannot make the promised moves,” the press release said.
“The November salaries, as well as the Christmas bonuses, were not paid,” said the President of the Chamber of Labor of Upper Austria, Andreas Stangl.
“And now, before Christmas, this news!” There’s simply no quality in the handshake between KTM’s steering. As a chamber of labor, we will make every effort to be decisive so that workers obtain the sums claimed for insolvency as soon as possible. “
Pro-Ge and GPA presidents Reinhold Binder and Barbara Teiber issued a joint statement, saying: “Employees are now paying the price for blatantly incorrect control decisions. In fact, it will be mandatory to read about how such a dramatic scenario could have happened and who is responsible. We will now do everything we can to temporarily get certain workers what they are entitled to from the Insolvency Fund, and get them through those difficult days and weeks. »CN
The following comes from November 26, 2024.
It is beginning to seem that all rumors about KTM’s suffering are recently true. However, writing on the wall after the company announced plans to reduce some of its racing systems by 2025. Today, KTM and its parent company, Pierrer Mobility Group, which also owns Husqvarna, Gasgas and MV Agusta, They pointed out that they knew that they identified that they identified that they identified that they identified that they identified that they identified that they identified that they identified that ‘they have declared that they have declared that they have declared that they have declared that they have declared that Husqvarna, Gasgas and MV Agusta bump on the road and are entering complicated times due to the fall in sales.
Today, KTM CEO Stefan Pierer and co-CEO Gottfried Neumeister took on the company’s more than 5,000 employees, presenting a comprehensive plan “to deal with demanding monetary situations and a great race for KTM.
KTM issued this public release:
Stefan Pierer, CEO of KTM AG: “Over the past three decades, we have grown to become Europe’s largest motorcycle manufacturer. We inspire millions of motorcycle riders around the world with our products. Now we are taking a pit stop for the future. The KTM brand is my life’s work, and I will fight for it.”
KTM, which has grown from 160 workers and a production volume of 6,000 sets in 1992 to a capacity of up to 1,000 motorcycles consisting of the day, now faces significant obstacles. To deal with this, KTM will begin a legal restructuring procedure with self -administration. The application will be submitted on Friday, November 29, with the aim of concluding the procedure within 90 days.
Since September 2024, Gottfried Neumeister has joined the Board of Directors as Co-CEO. Stefan Pierrer: “Gottfried Neumeister brought impressive delights and a breath of new air and made a significant contribution to combating the existing situation. I am confident that together we will put the corporate back on track for success. »
Gottfried Neumeister, Co-CEO of KTM AG: “The enthusiasm of our workers is our greatest vital competitive advantage. Their hobby is the reason why KTM is synonymous with maximum functionality around the world. We build our motorcycles reliably and robustly. for every race, for every and every terrain. Now it’s a matter of making the company strong for the future so we can temporarily focus on what we do best: building the coolest motorcycles in the world.
Pierrer and Neumeister emphasized the importance of worker engagement and help during this period. “Together we have made KTM a success and together we will take KTM into the future,” they said.
The main points of KTM’s restructuring plans have still been made public.
To be informed more, watch this video with Pierrer and Neumeister. CN