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HMF prepares for a lower activity in 2023

Crane manufacturer HMF Group A/S is adapting to an expected lower activity in 2023 based on the high uncertainty in the surrounding world, including the risk of economic recession.

22/11/2022 08:15:00

Reluctance among customers in the transport industry has led to lower expectations in general for the company. Therefore, the activity level of 2023 is expected to be lower than that of 2022. As a result of this, the company is planning to reduce its work force with up to 60 employees.

"It is always hard to say goodbye to talented and dedicated employees, but as a responsible management it is our task to adjust costs to the expected activity level," says CEO Mikkel Winther Andersen.

HMF will work with local job centres in to ensure that the affected employees move on as best as possible and into new jobs as soon as possible.

Flexibility is a key factor for a company like HMF, which is sensitive to changing market conditions, and Mikkel Winther Andersen also states;

"We operate in a volatile industry, where things go up and down, and therefore we must be ready to adapt at all times. This is of course also true when we see the market going up again. Here we must also be ready to increase activity again with short notice."