Austrian steelmaker Voestalpine has announced significant workforce reductions at its Kindberg and Mürzzuschlag plants in Styria, citing ongoing pressure from US tariffs, declining automotive-sector demand, and rising energy and labor costs, Reuters reported.
The restructuring will impact approximately 280 full-time employees and 60 temporary workers. Beginning January 2026, Kindberg operations will shift from a three-shift to a two-shift system due to lower order volumes—driven largely by the reduced competitiveness of exports to the US under elevated import tariffs.
Despite operational challenges, Voestalpine reported resilient financial results for the first half of the 2025–2026 fiscal year:
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Net profit: €199 million, up 8.6% year on year
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Revenue: €7.6 billion, down 5%
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EBITDA: €722 million, up 0.5%
The company forecasts full-year EBITDA between €1.4 and €1.55 billion, expecting early benefits from its restructuring program by the end of the fiscal year. However, management emphasizes that significant near-term economic recovery remains unlikely, and that aligning production capacity with subdued demand will be key to navigating current market conditions.
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