The bankruptcy of the Swedish electric truck brand Volta increases fears of further job losses at Steyr Automotive. The fact is: companies from the area could now also benefit from the difficult situation in the former MAN factory. Iris Schmidt, head of the Upper Austrian Labor Market Service, sees potential in this.
The cash reserves were used up, the bankruptcy of the battery manufacturer and the associated problems made it impossible to bring new investors on board, bankruptcy was inevitable! Those responsible for the electric truck brand Volta Trucks announced this on Tuesday.
Volta was an important customer
This is a heavy blow to the Steyr Automotive factory, where production for the Swedes was set up. Volta was an important customer and provided jobs. The customer’s bankruptcy increases uncertainty among the already significantly reduced workforce.
The employment service has been alerted
Mayor Markus Vogl hopes “for the employees who work on the production of the new electric trucks, they will find a solution that will secure their jobs in the long term.” Can that work? The employment service, where 260 employees of Steyr Automotive were registered for dismissal in the early warning system at the end of August, has in any case been alarmed.
“I definitely see potential”
What would further job losses at the former MAN factory, where Volta’s bankruptcy is feared, mean? “Steyr has many companies that are still looking for workers,” emphasizes AMS-OÖ boss Iris Schmidt, who also thinks about the environment. Companies in the Steyr-Land district have been less attractive to employees in recent years because there was a large supply of jobs in the city: “I definitely see potential there.”
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
