Trembling is great

KTM: Employees are still waiting for an advance on their salaries

There is great uncertainty among the more than 3,600 employees at KTM.(Bild: Markus Wenzel)

Three days after the opening of insolvency proceedings, the first 250 redundancies were announced at KTM - a fact that has further fueled uncertainty among the workforce. And now the advance on December's salary announced for this week is still a long time coming, as employees are discovering when they look at their account balances.

This week, a 90 percent advance on the December salary will be transferred, KTM had reassured the employees immediately after the insolvency of three companies became known. However, when looking at their account balances, the more than 3,600 employees affected by the restructuring process realize that the promise has not yet been kept - no advance payments have been made.

Patience required
When will this happen? It is not yet possible to say when the payments will be made. This means that employees will have to be patient.

A few weeks before Christmas, this is further bad news in addition to the uncertainty associated with insolvency. They will have to wait even longer for the outstanding November salary and Christmas bonus anyway. These are expected to be transferred by the insolvency compensation fund by the end of January.

The first redundancies at KTM were announced on Monday. 250 employees will be laid off in the first step, 200 at KTM AG and 50 at KTM Components GmbH.

Round table to be held on Thursday
On Thursday, December 5, a round table initiated by the state of Upper Austria will take place - with Upper Austrian Economic Councillor Markus Achleitner, the AMS, the Upper Austrian Chamber of Commerce and the Upper Austrian Chamber of Labor. In addition to insolvency foundations, bridging finance for suppliers is also a topic.