There will be 750 job cuts at KTM due to their ongoing financial issues.
KTM is planning on further job cuts amid their financial issues, reportedly 500 KTM workers are set to become unemployed.
250 workers had already been laid off, but these 500 workers will follow on from the previous 250 workers. This is all part of the restructuring plans that KTM has undertaken in order to recover from its financial crisis.
All of these reports have come from the Austrian publication Der Standard. The publication has also stated that it is not clear when the redundancies will be finalised. However, the administrator overseeing the restructuring process, Peter Vogl, believes that KTM AG, as well as its subsidiaries KTM Components and KTM F&E, will be able to continue functioning after the restructuring process.
Der Standard has completed further research and has discovered that KTM is in debt to 1,630 creditors. This includes 180 banks to which KTM's debt is reportedly a total of €796 million.
The list of KTM’s creditors, Der Standard reports, is 34 pages long, with the first 13 pages covering Austrian companies, and the remainder from a variety of international countries including the following: Germany, India, France, Italy, Spain, Portugal, the Netherlands, Slovakia, Slovenia, Poland, Ireland, Switzerland, Great Britain, Canada, the USA, Argentina, Thailand, Taiwan, China, South Korea, Myanmar, Australia or Japan.
As well as the numerous banks, creditors also include smaller companies such as bakeries and coffee suppliers.
KTM is set to stay in the MotoGP World Championship until the end of te 2026 season. However, the development of the RC16 has been suspended ahead of next season.
