Georg Fischer, an industrial consortium, has announced it will cut 340 jobs worldwide from its AgieCharmilles division, with nearly half of them in Switzerland.
The company said on Tuesday that demand for its milling machines and motor spindles among other products had been weak "for a long time".
The group will lay off 145 workers, two-thirds from sales and marketing, across its five offices in Switzerland.
In November Georg Fischer, which employs 13,000 people around the globe, announced it would have to reorganise itself to return to profitability. It had already trimmed hours from workers' schedules.