Mass Layoffs Also in Switzerland

After Germany, where automaker Volkswagen announced drastic staff cuts, the wave of layoffs has reached Switzerland, where steel group Swiss Steel intends to eliminate 800 jobs.

Deep staff cuts were announced on Friday, November 15, by the Swiss steel group, which is experiencing serious financial difficulties: hundreds of jobs will soon be cut in Switzerland and other European countries.

In Switzerland, 130 of the current 750 jobs at the Emmenbrücke plant will be cut: the reduction will affect both production and administration. In a press release, the company wrote that “natural fluctuations will likely not be sufficient to meet the target, and therefore it expects to have to give notice of layoffs to 80 employees.”

“A reorganization at the European level is necessary due to current economic conditions and continued weakness in demand,” the company wrote, where along with “job cancellations, the group will also begin to reorient the entire commercial organization.” The aim is to “secure” production sites in Switzerland, Germany, and France, Swiss Steel specified.