voestalpine celebrates 35 years of the Steel Foundation "Stahlstiftung"

27 January 2023 |

Employees who lose their jobs should not only receive money as part of a social plan, but also professional (re)orientation, training and support in finding a job. This was the basic idea behind the Steel Foundation, which was launched in 1987 in the wake of the steel crisis on the initiative of the works council and management of what was then VOEST-ALPINE. The model has been a success: with 80 member companies, most of which belong to the voestalpine Group, the Steel Foundation has helped more than 9,500 people back into working life; around 400 people are currently in the program. Yesterday, the member companies celebrated the 35th anniversary of this success story with almost 200 guests.

The Steel Foundation supports those who have lost their jobs due to economic or structural changes. The success rate is 90%, i.e. almost everyone who was looking for a job with the foundation found a new job.

The Steel Foundation is regarded as a model far beyond the country's borders. It is a valuable labor market policy instrument that has proven its worth over the past 35 years, especially, but not only, in economically challenging times. The ever faster pace of change in the world of work requires sufficient qualification and further training measures in order to be well prepared for the demands of the labor market.

Herbert Eibensteiner, CEO of voestalpine AG

Hans-Karl Schaller, Chairman of the Group Works Council of voestalpine AG, emphasizes: "Looking back on these extraordinarily successful past 35 years, we can all be very proud of what the Steel Foundation has achieved for our employees. The Steel Foundation was the prototype for many other employment foundations and has sustainably prevented unemployment, enabled qualifications and provided prospects in terms of reorientation for thousands of participants. The Stahlstiftung has also shown in an impressive way that major challenges can only be overcome together, which is why we will continue to rely on a well-functioning internal social partnership for future tasks and problems by always putting what we have in common before what divides us."

"The Steel Foundation will continue to support people who are no longer able to work for various reasons. And we can assume that it will be needed in the event of economic problems at individual companies or major economic crises. In addition, social change and new crises will not make the tasks any easier, but will require more short-term activities. Flexibility, creativity and the ability to react quickly will therefore become core competencies of our work," says Bernd Dobesberger, Managing Director of the Steel Foundation.

Solidarity-based financing model

The activities of the Steel Foundation are primarily financed by solidarity contributions from the approximately 27,000 employees of the 80 or so member companies. These companies provide the second pillar of the foundation's funding through company contributions. And for participants in the foundation, the Public Employment Service finances an extended form of unemployment benefit.

Since its inception, the Foundation's tasks have developed continuously. In addition to its main objective, various new services have been created with the aim of promoting and maintaining the employability of still-active employees from member companies. For example, around 2,000 employees have received financial support during their educational leave since 2009 and around 200 active employees have been supported with special advisory services since 2019.

The voestalpine Group

voestalpine is a globally leading steel and technology group with a unique combination of materials and processing expertise. voestalpine, which operates globally, has around 500 Group companies and locations in more than 50 countries on all five continents. It has been listed on the Vienna Stock Exchange since 1995. With its premium products and system solutions, it is a leading partner to the automotive and consumer goods industries as well as the aerospace and oil & gas industries; it is also the world market leader in railway systems, tool steel, and special sections. voestalpine is fully committed to the global climate goals, and its greentec steel program represents a clear plan for decarbonizing the production of steel. In the business year 2021/22, the Group generated revenue of EUR 14.9 billion, with an operating result (EBITDA) of EUR 2.3 billion; it had about 50,200 employees worldwide.

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