KTM cuts 500 jobs, two-thirds in Austria, with social plan in place

KTM plans to cut approximately 500 jobs, with two-thirds of these reductions occurring in Austria. A social plan is in place to support affected employees. The social plan includes additional financial benefits beyond standard severance, with payments varying based on employee tenure, age, and dependents. The first layoffs are expected within the next two weeks. A key feature of the plan is an insolvency foundation offering retraining and further education to help employees transition to new jobs. KTM's CEO thanked the unions and regional authorities for their collaboration on these support measures.