Austrian manufacturers announce job cuts amid economic pressures

Two Austrian companies have announced significant workforce reductions due to economic pressures.

Automotive supplier Veritas Austria GmbH will close its production facility in Mieders, Tyrol, by the end of 2026. The closure will result in the loss of approximately 80 to 90 jobs. Management cited rising personnel costs—which increased by roughly 25 percent over the last five years—as the primary reason for relocating production to a country with lower labor costs, despite the plant remaining profitable.

Separately, machinery manufacturer Lisec is cutting 52 positions in Seitenstetten, effective in the third and fourth quarters. The company attributed the layoffs to a prolonged global recession in the construction and glass-processing sectors, which has led to a noticeable decline in orders since the second quarter of 2025. Lisec plans to reduce its global workforce by approximately ten percent to adjust capacities and costs.