Short-time work starts at Elmos

The Management Board members will waive 10% of their respective monthly salaries. In addition to the statutory short-time allowance Elmos compensates 25% of the net loss of income caused by short-time work for the employees affected, the company writes in a short update. "The introduction of short-time work will moderate the financial consequences of the weak demand caused by the spread of the coronavirus for Elmos. During the financial crisis 2008/2009 Elmos has shown that we react in an appropriate and successful manner to economically difficult situations. Also with regard to the very early introduction of far-reaching protective measures for our employees we are convinced that we have done the right thing", says Dr. Anton Mindl, CEO of Elmos Semiconductor AG. The extensive preventive measures against the spread of the coronavirus implemented at Elmos since the end of January will continue unabated. For example, several hundred employees are working from home, there are strict travel restrictions, and entry screenings are being conducted.