Employees of Recaro Aircraft Seating have agreed to new employment terms at its Schwaebisch Hall location until June 30, 2023.
According to Recaro, as a result, 1,100 employees have a crisis-proof workplace during this time of the economic crisis.
Sales in 2020 are expected to be around 300 million euros, 60% below the previous year’s level. To dilute the wider global slowdown, The “Touch & Go” efficiency program was launched in the autumn of 2019, which has led to significant savings and is being further pursued.
Recaro has been using short-time work in Germany since April to compensate for the decline in production and orders. At the same time, future projects, new product developments, Lean Enterprise and the site expansion “space2grow” with its own flam lab and crash facility are being driven forward in order to emerge from the crisis stronger.
Martin Putsch, CEO of Recaro Holding, commented: “The results of the negotiations show the great strength and unity of the Recaro team. This makes me very confident for the long-term success of Recaro Aircraft Seating.”
