It’s not what the employees were initially promised, but at least it’s something! On Thursday, KTM transferred the employees the amounts they were entitled to for a working day and the December part of the Christmas bonus. The motorcycle manufacturer also wants to transfer December salaries before Christmas, the employees were assured.
This week, KTM wanted to transfer an advance of 90 percent on the December salary to the employees affected by the bankruptcy – this was also promised to the employees. But: this amount was owed to the staff, which further exhausted the nerves of some…
But then there was a glimmer of hope: on Thursday, KTM transferred money to its more than 3,600 employees for the first time. The amounts for one working day (November 30) and the December part of the Christmas bonus, which was no longer paid out, ended up in people’s accounts.
What happens to the promised advance of the December salary? It will take a long time in this form. The motorcycle manufacturer has now decided to pay out the December salary before Christmas and has also informed the staff about this. Normally KTM only transfers money at the end of the month, but now they brought forward the payment.
The insolvency fund takes over the large part
The bankruptcy compensation fund covers November’s salary and the remaining Christmas bonus. Most of the powers of attorney required for submission to the fund were issued to employees by the Chamber of Labor during company meetings this week and signed by them.
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.
