VAT ends short time work for its production employees in Haag Freitag, 28. Juni 2019 - 07:00

VAT Group today announced that it will end the current short time work scheme for about 400 production employees at VAT Vakuumventile AG as per July 1, 2019.

Since the beginning of the market downturn in mid-2018 and the introduction of short-time work in October of last year, the organization in VAT Vakuumventil AG's production has adapted to the new market environment and is now at a level that allows short-time work to be discontinued.

This step reflects VAT's belief that the current market downturn has bottomed out. However, it does not mean that VAT expects a marked improvement the business conditions in the coming months. The limited visibility of future market developments, especially for production equipment for the semiconductor and display industry, continues.

However, the current personnel situation in relation to the business volume allows VAT to deploy existing employees more efficiently and flexibly. Future improved market conditions will be addressed by hiring temporary employees in an initial phase.

The fundamental growth drivers for the VAT business such as digitalisation, the Internet of Things, self-propelled vehicles etc. will remain and will give VAT more positive growth impulses again in the future.

For further information please contact:
VAT Group AG
Communications & Investor Relations
Michel R. Gerber
T +41 81 771 61 61