More job cuts as Covid-19 hits business 

Schindler, which makes lifts and escalators, is among a number of Swiss firms announcing job cuts because of the coronavirus crisis. © Keystone / Urs Flueeler

More Swiss firms are announcing job cuts after the coronavirus crisis hit their business in the second quarter of the year. 

Swiss lift maker Schindler announced on Friday that it would be shedding 2,000 jobs worldwide in the next two years, including 200 in Switzerland. This came as it announced first half results down on the same period last year, although better than analysts had expected. The firm said the job cuts were part of a cost-cutting plan because of the “negative impact of Covid-19 on business”. 

Also announcing lower results on Friday, the Sulzer industrial group confirmed it plans to cut 55 jobs at three of its Chemtech sites in Switzerland. “The global economic downturn caused by the pandemic and the resulting market distortions have led to the need to adjust our capacities in two group companies in Switzerland,” Sulzer said. 

And airport technical services firm SR Technics plans to shed up to 500 jobs as a result of the crisis, according to the Tages-Anzeiger newspaper, including at Zurich, Geneva and Basel airports. 

This comes after some Swiss companies in other sectors also announced plans to shed jobs. For example, German tour operator TUI said earlier this month it would close eight of its 62 branches in Switzerland with the loss of around 70 jobs, owing to the effects of the coronavirus crisis. And at the end of June, Swiss tour operator Hotelplan announced it was cutting around 430 jobs, including 170 in Switzerland.