Metal producer to cut jobs

Swissmetal has announced plans to cut 290 jobs at its metal production site in canton Solothurn.

This content was published on July 7, 2011 minutes and agencies

The metallurgic group blamed serious liquidity problems in announcing the planned closure of the raw materials depot in Dornach. Another facility in Reconvilier will continue operating. Swissmetal’s German factory will not be affected.

Production was suspended at Dornach and staff sent home on Thursday.

Management will be holding talks with unions to discuss the cuts, and all options will be considered, it said in a statement.

Around 150 staff met on Thursday to give Unia representatives approval to lead the talks on their behalf.

At the end of 2010 Swissmetal reported it had cashflow problems and a bank loan of nearly SFr25 million ($29 million).

Swissmetal manufactures high-quality products from copper and copper alloys. Its clients are in the electronics, telecommunications, aviation, automotive, stationery and watch industries.

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