Swiss energy group Axpo has announced it will cut 140 jobs out of 4,400 in March, as it reorganises its management and support sectors.
This content was published on
1 minute
swissinfo.ch and agencies
The move, along with the implementation of a more flexible production strategy and the merging of some activities, should save the Zurich-based company an estimated SFr100 million ($106.8 million) in the medium term.
Other power companies had already announced job cuts over the past few months, with Bern’s BKW announcing it would let more than 250 employees go and Alpiq losing 450.
The decision comes as Axpo revealed on Monday that its net profit for the 2010/2011 financial year declined by 89 per cent to SFr45 million.
The drop was largely due to bigger than expected depreciation of the value of the firm’s nuclear power plant holdings, which rose from SFr311 million to SFr860 million.
The company said this was due in part to the Swiss government’s decision to gradually abandon nuclear power in the wake of the Fukushima disaster.
Axpo, which is owned by the cantons of northeastern Switzerland and their utility companies, said it plans to invest SFr21 billion over the next two decades.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Walking the talk on renewable energy
This content was published on
Where do we go from here? The question raised after the May 2011 decision of the Swiss government to abandon nuclear energy has yet to be answered. While the disaster at Fukushima focused people’s minds on the risks of atomic energy, there remains great uncertainty about the future of energy supply in this country. By…
This content was published on
At the beginning of October, the people of Bourrignon, on the heights above the Jura cantonal capital of Delémont, voted against a plan to erect 14 turbines near their village. Several communes in the Franches-Montagnes region of the Jura are to vote shortly on initiatives calling for either a total ban, or a moratorium, on…
This content was published on
The Senate followed the House of Representatives in calling on the government to ban new nuclear plants but keep parliament informed about innovations in the field. In the debate supporters of a withdrawal warned of the risks of nuclear energy and the disaster at the Fukushima power plant in Japan, more than six months ago. Several senators,…
This content was published on
Some 60 per cent of Switzerland’s energy is produced by water. Christian Helmle photographed the architecture of hydropower plants around the country.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.