Economy at a standstill

High energy prices: “The economy is at a standstill!”

Energy costs in Carinthia have skyrocketed, and households and businesses continue to suffer as a result.(Bild: THHORSTEN MALINOWSKI)

Hirsch Servo CEO Harald Kogler has had to introduce a four-day week for his mechanical engineering company and warns: "Building permits are down by 60 percent. It won't get better until 2027!"

Austria's economic performance is still not picking up speed. For the second year in a row, companies are experiencing a recession this year. In Carinthia, insulation giant Hirsch Servo in Glanegg has also been affected by the poor order situation. CEO Harald Kogler therefore had to decree a four-day week for the mechanical engineering department until March 31. "125 employees have been affected, losing twelve percent of their income. However, the employees understand the emergency measure," says Kogler.