KTM parent company Pierer Mobility announce further redundancies amidst 2024 sales slump

Pierer Mobility – the parent company of KTM, Husqvarna, GasGas and WP Suspension, and 50.1% owner of MV Agusta – have announced further plans to axe jobs in the light of poor sales figures which saw their net debt rise to €1.469 billion. 

An additional 200 employees are set to lose to lose their jobs in the third quarter, with 373 already laid off since the year began.

Pierer expects that these cuts – alongside increased manufacturing migration to India and China, as well as a 25% drop in planned production – will see them back on track heading into 2025. 

Total headcount for the company now stands at 6024, with the full consolidation of MV Agusta adding 213 members of staff. 

The manufacturing giant confirmed earlier in the year that overall performance in the first half of 2024 fell well short of previous years, with sales for the whole 12-month period expected to be up to 15% down overall.  

Pierer have stated that the global motorcycle market as “challenging”, describing only Europe (it’s largest trade area) and India as “slightly positive” and “positive” respectively. Meanwhile North America, Australia and China were described as “declining.”