Economy under pressure: Groz-Beckert is planning drastic cuts

Economy under pressure: Groz-Beckert is planning drastic cuts

There is currently a lot to report in Albstadt, especially when it comes to the situation at Groz-Beckert. The international market leader for textile precision tools recently suffered a significant decline in sales. Sales fell from 880 million euros to 839 million euros - that's 41 million euros less, or almost 5 percent of the previous year's sales, as reported Groz-Beckert website reported. The decline can be seen in all three business areas, Textile Tools, Cutting Tools and Engineered Textiles.

What does this mean for the workforce? Groz-Beckert plans to reduce costs in the textile tools area by around 50 million euros over the next two years. This could be done through measures such as reducing positive time accounts and short-time work. As part of a volunteer program that started in 2024, over 200 employees have agreed to end their employment relationships by mutual agreement. If you add up the latest figures, the company still had 9,419 employees worldwide as of December 31, 2024, which means a decrease of 176 employees compared to the previous year.

Sporting events and festivals

But the economic situation is not the only issue in the region. The legendary Albstadt Bike Marathon will take place in Albstadt from July 11th to 12th and is expected to attract over 15,000 spectators and around 1,500 cyclists this year. The route covers an impressive 82 kilometers with 2,000 meters of elevation gain, and there is an exciting new feature for the field of participants: they will stop at one point for several minutes. This promises exciting moments for spectators and athletes.

Another highlight is the RV Bang Festival from July 12th to 15th in Balingen. The prices are not exactly cheap, as a day ticket costs from 90 euros, while the festival pass starts at 166 euros. In return, visitors can expect a larger and tougher line-up than last year.

Changes in the local environment

A community workshop will take place in the municipality of Trossingen on July 10th at 6:30 p.m. that will focus on the redesign of Rudolf-Maschke-Platz. The focus here is on improving the quality of stay and reducing car posers - an important initiative for urban development.

At the same time, the Honberg Summer is also taking place in Tuttlingen, where a total of 16 events are planned from July 11th to 28th. Ticket prices range from around 30 to 50 euros, and concerts from the likes of The Hooters and Suzi Quatro are on the program, with some events already sold out.

There will also be open-air events in the Prinzengarten in Sigmaringen: “Live in the Park” starts on July 11th at 4 p.m. and “Dance in the Park” follows on July 12th from 1 p.m. Tickets are available here either in advance or at the box office.

This wave of events and developments shows that the region remains vibrant despite economic challenges. The next few weeks promise to be exciting – both economically and culturally.