VIENNA, March 23 (Reuters) - Specialty steelmaker Voestalpine said on Monday it would introduce shorter working hours in around 50 European group companies in Austria, Germany, Belgium, and France.
“As a result of massive reductions in capacity and current production shutdowns in the automotive, aerospace, mechanical engineering, and oil & natural gas industries, in just a few days demand in the key Voestalpine customer segments has collapsed,” the Austrian company said.
Voestalpine will implement alternative measures as appropriate in countries where no short-time work models are available.
Several sites in countries including France, Italy, Peru, Brazil, and the United States had already been temporarily closed. (Reporting by Kirsti Knolle; Editing by Jan Harvey)