Waberer’s has announced that it is introducing special measures with immediate effect to counter the adverse impact of COVID-19.
As announced in the trading update issued on 17 March 2020, the revenue of the Group has been materially impacted by restrictions across Europe in the wake of the coronavirus pandemic. To preserve the short-term financial stability of the Company, Waberer’s has decided to introduce special measures.
These measures include the halting of a significant portion of the trucks in Waberer’s international fleet with immediate effect.
A repatriation plan of the assets and the drivers outside the country has been adopted and its execution has started. Most discretionary spending has also been suspended.
The Company is also rationalising its workforce to match the decline in demand. A combination of HR measures introduced involve a hiring freeze, wage renegotiation and an unpaid leave programme.
The labour unions in the Company were involved in designing these measures. Barna Erdélyi, CEO commented: “These are unprecedented times that require unprecedented responses. I am confident that the measures introduced today strike a careful balance between the necessary improvement of our financials and to maintain service level to our clients, and ensures the sustainability of the operations in the current challenging times.”
Source: Waberer’s
