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More layoffs loom at Swiss companies

Four out of every ten Swiss companies say they are planning to lay off staff over the next 12 months to deal with the economic downturn.

Hit particularly hard will be employees in the industrial sector, where 55 per cent of companies will cut staff, according to a survey published by the Adecco Institute on Thursday.

Soft measures introduced by many companies over the past six months, such as requesting employees to reduce their hours or imposing a freeze on hiring, have proved insufficient, Adecco said.

The institute found many firms – 30 per cent of the 500 businesses surveyed – that had not yet reduced employees’ hours would do so. The same amount said they would also stop paying bonuses.

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