• Significant drop in demands in the automotive sector
• Personnel measures, reduced working hours in Vorchdorf as of mid February
• Goal: To get through the crises while retaining all permanent workers

Miba, a strategic partner to the international engine and automotive industry, is preparing itself for difficult months ahead. The tense economic situation is especially hard on the automotive industry − which, with around 40 percent of group revenue, is one of Miba's core markets. Significant drops in demand are the result. "Long-term corporate planning is difficult in the current order situation", says CEO Peter Mitterbauer.

Miba is reacting to the weak market by adjusting their capacity in the affected areas and making it more flexible. Measures that have already been put into place include using up residual holidays, reducing overtime and excess hours and also cutting back on the use of temporary workers and educational leave. Employees in Austria will also be moved to other locations as needed. As of mid February, the 320 employees at Miba Sinter Austria in Vorchdorf will go on reduced working hours. This is a fifth of the employees employed at Miba in Austria. For four weeks, the affected employees will work on average 25% less with a pay reduction of approximately 10%."

Miba currently has 1600 employees in Austria. Our goal is to get through these difficult times while retaining our permanent staff as these are the trained employees that we will need for the upcoming recovery", says Mitterbauer.