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Elmos Semiconductor SE
Regulatory Filings • Apr 3, 2020
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Regulatory Filings
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Corporate | 3 April 2020 15:15
Elmos Semiconductor AG: Short-time work starts – Management Board and executives waive parts of their remuneration
DGAP-News: Elmos Semiconductor AG / Key word(s): Miscellaneous
03.04.2020 / 15:15
The issuer is solely responsible for the content of this announcement.
Dortmund, April 3, 2020: Elmos will start with the already announced short-time work in mid-April. Associated with this, the Management Board and executives will voluntarily waive a part of their remuneration. 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 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. Extensive measures for social distancing have been implemented.
Contact
Elmos Semiconductor AG
Janina Rosenbaum, Head of Investor Relations, Tel: +49-231‐7549‐287
Mathias Kukla, Press Relations, Tel: +49-231-7549-199
Email: [email protected]
About Elmos
Elmos develops, produces and distributes semiconductors and sensors, primarily for use in the automotive industry. Our components communicate, measure, regulate and control safety, comfort, powertrain and network functions. For over 30 years, Elmos innovations have been bringing new functions to life and making worldwide mobility safer, more comfortable, and more energy efficient.
03.04.2020 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | Elmos Semiconductor AG |
| Heinrich-Hertz-Str. 1 | |
| 44227 Dortmund | |
| Germany | |
| Phone: | +49 (0)231 7549-575 |
| Fax: | +49 (0)231 7549-111 |
| E-mail: | [email protected] |
| Internet: | http://www.elmos.com |
| ISIN: | DE0005677108 |
| WKN: | 567710 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1015009 |
SDAX
| End of News | DGAP News Service |