Spelle, Germany: The Krone Group is introducing short-time working in its business due to the current economic climate. The first areas at sites in Lower Saxony have already gone into short-time working and other parts of the company are considering it due to “stagnating market expectations, particularly in the otherwise strong domestic market”, Krone said.
The “generally very difficult economic situation, characterised by uncertainty among farmers and transport companies regarding new investments and extensive cost explosions”, is forcing it to make savings in all its business areas, despite achieving sales of around €3.2bn in its 2022/23 financial year, Krone said in a statement.
Bernard Krone, chairman, said: ”“The current economic uncertainty and the associated difficulties, such as international political crises, an unfavourable European interest rate policy and high energy prices, are prompting the company to adopt a cautious stance. The Krone Group remains stable, independent and owner-managed, but needs to respond to the emerging difficulties.”
