Alno AG has suspended around 400 employees, a decision that was “aggravated” by the current insolvency process, the company has admitted.
The suspension is effective as of October 24, with administrator Prof Dr Martin Hörmann stressing that the decision did not mean redundancies and that he was left with no choice.
He explained that he and the company were “in talks” with the works council about a short-term social plan for affected employees.
Hörmann added that suspension would go ahead despite “promising investor discussions”.
However, he confirmed that sales negotiations for the company were “advanced” and in the “decisive phase”.
“The situation is difficult and is under enormous time pressure,” he said. “I regret that the exemptions had to come because of the liquidity situation. But we will not give up and will try to provide a future solution for Alno and the staff.”