Cycle News is a weekly magazine that covers all aspects of motorcycling including Supercross, Motocross and MotoGP as well as new motorcycles
Issue link: https://magazine.cyclenews.com/i/1530649
WIND IN THE P42 KTM Employees To Go Without December Salary I t's been reported that Euro- pean KTM AG employees will go without their December pay packets before Christmas. On Friday, December 13, The Chamber of Labor of Up- per Austria issued a statement slamming the manufacturer for apparently breaking its promise to pay wages to its employees. "Before Christmas, KTM wanted to transfer 90 percent of the December salaries to the employees. This was promised to the employees. But now, that will not happen! The insolvent com - pany in Mattighofen is apparently unable to make the promised transfers," the statement read. "The November salaries, as well as the Christmas bonuses, were not paid," said the President of the Chamber of Labor of Upper Austria, An - dreas Stangl. "And now, even before Christmas, this news! There is simply no quality in the hand- shake between KTM's manage- ment. We, as the Chamber of Labor, will decisively do every- thing we can to ensure that the employees receive the amounts claimed from the insolvency fund as soon as possible." Presidents of PRO-GE and GPA, Reinhold Binder and Barbara Teiber, issued a joint statement, saying, "The employ - ees are now paying the price for obviously wrong management decisions. It will certainly be necessary to examine how such a dramatic situation could have happened and who is responsi- ble for it. We will now do every- thing we can to ensure that the employees quickly receive what they claim from the insolvency fund, and we will support them during these difficult days and weeks." CN KTM has been slammed by the Chamber of Labor of Upper Austria for failing to provide December wages to its European staff. MV Agusta Clarifies Position Amid KTM Sell-Off Rumors M V Agusta has issued a statement addressing recent rumors surrounding the potential sale of Pierer Mobility Group's (PMG) controlling stake in the company. The statement follows speculation that PMG, which currently holds a controlling interest in the Italian motorcycle manufacturer, intends to divest its stake. According to reports from multiple me - dia outlets, a recent meeting between PMG and the Confindustria Varese union revealed that the Austrian group—currently facing financial strug - gles and undergoing insolvency proceedings—no longer considers MV Agusta a strategic asset. Some reports further claimed that MV Agusta's production operations were being relocated to its Varese facility. However, MV Agusta's statement refutes this, clarifying that all aspects of produc - tion, "from initial design and briefing definitions to the development of prototypes at any level, all the way to industrialization and production," already take place in Varese. The statement goes on to emphasize that the company's ownership, of which KTM is the majority shareholder, has never interfered with its business operations. It also notes that the "current situation of the shareholding structure is still being defined, with shareholders working together to determine the future corporate structure." You can read the full statement here. cn MV Agusta says it's "staying put" in Italy.