Finance
Voestalpine to cut jobs at two Austrian sites as US tariffs bite
Published by Global Banking & Finance Review®
Posted on November 12, 2025
1 min readLast updated: January 21, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on November 12, 2025
1 min readLast updated: January 21, 2026
Voestalpine will cut jobs at two Austrian sites due to US tariffs and rising costs, affecting 280 full-time and 60 temporary workers.
(Reuters) -Austrian Steel group Voestalpine will cut jobs at two sites in its home country, CEO Herbert Eibensteiner told reporters in a post-earnings call on Wednesday.
The company will reduce operations at its sites in Kindberg and Murzzuschlag in the Austrian province of Styria, which will impact around 280 full-time workers and around 60 temporary staff across both locations.
Eibensteiner said the sites had been impacted by U.S. tariffs on steel imports and rising energy and labour costs, with no real relief in sight.
Voestalpine will move from three to two shifts from January in the Kindberg plant, which Eibensteiner said had been hit particularly hard by U.S. President Donald Trump's import duties.
The speciality steelmaker is also closing its automotive components factory in Birkenfeld, Germany from December 1, as announced in October 2024.
(Reporting by Bernadette Hogg in Gdansk, editing by Milla Nissi-Prussak)
Job reduction refers to the process of decreasing the number of employees in a company, often due to financial constraints or operational changes.
A CEO, or Chief Executive Officer, is the highest-ranking executive in a company, responsible for making major corporate decisions and managing overall operations.
Temporary staff are employees hired for a limited period to meet short-term needs of a company, often without the same benefits as full-time employees.
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