The Austrian chip and sensor company ams-Osram is tightening its austerity measures and cutting even more jobs. The company announced on Thursday that more than 500 employees outside production were also affected. The Styrian location in Premstätten is also affected.
ams Osram boss Aldo Kamper justified the tightened course with the continued economic weakness in important markets. Last quarter, turnover fell by three percent compared to the previous year to 881 million euros. The adjusted operating result improved by 15 percent to 82 million euros – costs for mergers and acquisitions, restructuring, results from investments and the sale of business units are excluded.
Car company ‘characterized by uncertainty’
According to an APA report, the company is preparing for weak operations in the current fourth quarter. The automotive sector is characterized by uncertainty, demand from industrial and medical technology markets remains weak and activities in semiconductor products for mobile devices and greenhouses will weaken. On the other hand, things are looking good for halogen lamps for cars in the dark season.
Maximum 50 employees
The Styrian branch in Premstätten near Graz is also affected by the measures: a maximum of 50 employees must be dismissed there by the end of 2026. The jobs will be outsourced to Asia.
The start of the coming financial year will also remain weak. The weakness in the auto sector will be most noticeable in the first quarter, but will gradually improve thereafter.
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.
