Pierer Mobility, controller of the KTM, Husqvarna, GasGas and WP Suspension brands, and owner of 50.1% of MV Agusta, announced further layoffs in response to poor sales performance in 2024.
The company is facing an increase in net debt, which reached R$1.469 billion, and plans to cut another 200 jobs in the third quarter, adding to the 373 layoffs already carried out since the beginning of the year.
To address this situation, Pierer Mobility is taking several measures, including transferring part of production to India and China and a 25% reduction in production planned for this year. These actions aim to stabilize the company and get it back on track by 2025.
The total number of employees at Pierer Mobility is now 6,024, following the full consolidation of MV Agusta, which added 213 new workers to the company.
Earlier this year, Pierer Mobility confirmed that overall performance in the first half of 2024 fell far short of previous years, with a forecast drop in sales that could reach 15% throughout the entire year.
The company described the global motorcycle market as ‘challenging’, pointing only to Europe, its largest market, and India as regions with ‘slightly positive’ and ‘positive’ performance respectively. In contrast, markets in North America, Australia and China were classified as ‘declining’.