KSM Castings to cut 400 jobs in Germany | Automotive Industry News

KSM Castings Group is cutting four hundred positions in Germany in the coming months.

In addition, a new restructuring collective settlement is to be negotiated with the IG Metall union for remaining workforce.

Nevertheless, all German web sites are to be retained. KSM Castings Group had utilized for a protective shielding course of action at the Hildesheim district court on 2 July, 2020.

“Despite the fact that we are presently recording a quite great order consumption, we know this is mostly owing to catch-up results from the former corona lockdown,” explained KSM Castings CEO, Zhihua Zhu.

“The latest gross sales figures of the car sector and the outlook of the market place scientists are apparent. We will thus not be equipped to steer clear of changing our staff capacities and expense framework, like the remaining staff fees.

“This is the only way we can become competitive once more, keep our German destinations, protected positions and give our workforce a very long-phrase perspective”.

KSM Castings is not preparing to close any web sites as section of its restructuring. All 4 KSM web sites in Germany in Hildesheim, Wernigerode, Wuppertal and Radevormwald are influenced by the position cuts.

At the most significant production web page and headquarters in Hildesheim, around 270 of the latest 900 positions are to be cut, like not only in production but also in administration.

For the production web page, Bergisches Land (Wuppertal and Radevormwald), a reduction of around ninety positions (presently about 430 workforce) is planned and for the Wernigerode web page, around thirty positions (presently about four hundred workforce).

The planned position cuts are section of the restructuring thought and reorganisation program, which KSM Castings Group will post to the Hildesheim district court by the conclusion of September as section of the protective defend proceedings. In accordance to latest preparing, the position cuts in unique areas are to be distribute across several months.

To this conclusion, KSM will negotiate a reconciliation of interests and a social program with the normal operates council in the following few months. In addition, KSM intends to negotiate a new collective restructuring settlement with IG Metall for the remaining workforce.

KSM Castings Group employs around 2,350 folks at five production web sites in Germany and the Czech Republic.