Swiss Steel cuts 800 jobs
Keystone-SDA
Steelmaker Swiss Steel Group is cutting 800 full-time jobs, including 80 in Switzerland.
The Lucerne-based company explains that it is adapting its capacities to the current economic conditions and persistent weakness in demand.
+Get the most important news from Switzerland in your inbox
“These measures are aimed at ensuring the long-term optimisation and security of our production sites in Switzerland, Germany, and France,” stated the press release issued on Friday.
In Switzerland, 130 of the 750 jobs at the Emmenbrücke site are to be eliminated, in both production and administration.
“It is anticipated that natural attrition alone will not suffice, making it necessary to terminate approximately 80 employees. These planned measures are currently subject to ongoing consultation,” said the press release.
The capacity reduction involves the elimination of 530 additional jobs and the reduction of working hours for 270 full-time positions. In Germany, weekly working hours will be cut by 15%.
These measures will be “largely effective by 2025”, warns the Group, which intends to reduce its workforce to below 7,000 in the first half of 2025. The company currently claims to have around 10,000 employees on its website.
Adapted from French by DeepL/ac
This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles.
If you want to know more about how we work, have a look here, if you want to learn more about how we use technology, click here, and if you have feedback on this news story please write to english@swissinfo.ch.
