Parts of the production move from Bregenz to Slovenia.
Bregenz It is a notification of execution, which unfortunately comes as little surprise. Bregenz stocking manufacturer Wolford is reducing its workforce. 54 employees at the headquarters in Bregenz lose their jobs. You were notified of cancellation to the AMS via the early warning system on Wednesday.
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This development was already apparent in July. On the occasion of the publication of the balance sheet figures for the 2019/20 financial year, the Management Board presented a package of measures that included plans to reduce costs in the areas of administration, production and purchasing. In addition, due to the corona crisis, it was now necessary to accelerate the conversion. The 54 terminations mainly concern cutting and pre-sorting in production. These areas are relocated to the second plant in Slovenia.
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Loss and sales decrease
Wolford has been struggling with economic difficulties for a long time. In the 2019/20 financial year, the majority of the Chinese-owned company’s sales fell by almost 14 percent to 118.5 million euros. The operating result (EBIT) fell from minus 8.98 to minus 28.7 million euros. The loss after taxes from 11.1 to 27.42 million euros. The lockdown and associated boutique closings had done their part.
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The company has 1243 employees worldwide, 460 of them in Bregenz (FTE). Even before that, employees were repeatedly cut. Last 104 people in the administration. For comparison: five years ago the stocking manufacturer still employed 1,571 people.
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Difficult job market
Trade unionist Marcel Gilly (GPA-djp) also speaks of the fact that an imminent downsizing has been apparent for several weeks. That is why there have been intensive and good discussions with the company for some time. There is a social plan for employees who lose their jobs at the end of September. The employees of different ages are equally men and women. Thanks to a labor foundation, they should be able to regain a foothold on the labor market quickly, even if that would be difficult in view of the current economic situation. VN-reh
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