Several employees have been dismissed at the Austrian arms manufacturer Glock. Two locations have been affected. It is unclear how many jobs will be lost.
According to insiders, there is talk of around 60 employees – but the group itself officially speaks of “less than 30 employees” at the locations in Ferlach (Carinthia) and Deutsch-Wagram (Lower Austria).
The terminations took place “as part of the production capacity adjustment in 2024.”
In total, approximately 1,800 employees work at the two Glock locations. “It should be noted that the future of all Glock locations is definitively assured,” the company said.
Profits drop
The gun manufacturer ended 2023 with significantly lower sales and annual profits. Retained earnings amounted to EUR 431 million, compared to EUR 515.4 million last year. Turnover amounted to 615.7 million euros after 829.5 million euros in 2022. The result after tax amounted to 39.7 million euros (2022: 146.2 million euros), the annual surplus was 39.7 million euros (2022: 146. 2 million euros).
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.
