HanseYachts Faces Union Criticism Over Job Reductions and Short-Time Work Arrangements - HanseYachts also faces labor union claims for offering temporary positions in shipbuilding, beyond just job creation
In the face of an ongoing difficult order situation, HanseYachts, a leading manufacturer of high-seas capable sailing yachts in series production, has announced the implementation of short-time work (Kurzarbeit) and gradual job cuts at its Greifswald site in Germany. This step is aimed at managing the workforce and reducing labor costs, while retaining employees with reduced working hours rather than resorting to immediate further layoffs.
The short-time work measure, scheduled to take place from mid-July to the end of August, is a common strategy in Germany to mitigate the impact of economic difficulties on workers while the company stabilizes its operations.
HanseYachts is also actively involved in a process to reorganize its financial obligations to improve liquidity and ensure long-term viability. This debt restructuring, which aims to balance the company’s debts to facilitate recovery, is ongoing and remains active as of June 2025. Specific details on the completion or current progress of the debt restructuring were not explicitly provided in the latest available reports.
The management at HanseYachts has agreed to a social plan for the job cuts, with severance payments calculated by multiplying the years of employment by the monthly salary and a factor significantly higher than originally proposed. The works council at HanseYachts has agreed to this plan.
The continued economic difficulties in Germany are contributing to the challenging order situation at HanseYachts. Despite these challenges, the company is still experiencing a decline in sales in key markets such as the USA and Germany, leading to the announcement of job cuts.
In a positive development, Austrian family entrepreneur Andreas Müller and Hanjo Runde have plans to acquire the shares of the global investment company and long-standing majority shareholder Aurelius in HanseYachts. This potential change of ownership was not mentioned in the earlier reports.
Frank Prenzlau, head of IG Metall Stralsund-Neubrandenburg, has expressed his belief that short-time work is better than further job cuts, echoing his earlier statements. The Ministry of Economics in Schwerin is in close exchange with the parties involved in the HanseYachts situation, but has not yet issued a further statement due to the ongoing process.
HanseYachts has also implemented job cuts at its site in Poland, in addition to the job cuts at its Greifswald location. The company has not commented on the reasons for the short-time work and job cuts, and has referred to an upcoming statement.
As HanseYachts navigates these economic challenges, the company continues to strive for stability and growth, maintaining its production capacity and employment at the Greifswald shipyard.
- HanseYachts, aiming to manage its workforce and reduce labor costs amidst financial difficulties, is also considering vocational training as a means to upskill its workforce in the manufacturing industry, thus potentially reducing future job cuts.
- In an effort to ensure the long-term viability of the company, HanseYachts is not only reorganizing its financial obligations but also exploring opportunities in business collaborations, such as the potential acquisition of shares by Austrian family entrepreneur Andreas Müller and Hanjo Runde. This strategy could potentially stabilize the company's finances and support its industry.
