Many jobs are shaky

Debt Job loss

"We are registering an increasing proportion of unemployed and low-income earners who come to us," says Thomas Berghuber, Managing Director of Debt Counseling Upper Austria.(Bild: Krone KREATIV/Markus Wenzel, stock.adobe.com)

With the opening of insolvency proceedings at KTM AG, it became clear that the planned job cuts will be much greater than initially assumed: 500 jobs are to be lost by the end of the year. The motorcycle manufacturer is just one of many companies that is parting with employees. For people, losing their jobs often means starting life on credit. Read here to find out how to avoid the debt trap.

This week, KTM will transfer the December salaries as an advance payment of 90 percent. The November salaries and the Christmas bonus, which the motorcycle manufacturer, which has been insolvent since Friday, has not paid out, will be paid by the insolvency compensation fund, although this will take a few weeks ...