Navigation

Crisis deepens at Gretag Imaging

Gretag Imaging is to cut another 100 jobs in Switzerland swissinfo.ch

The photo finishing and products group, Gretag Imaging, has released a poor set of results for last year and has announced further job cuts. Around 100 posts are expected to go in Switzerland.

This content was published on March 29, 2001 - 10:36

The company made a net loss in 2000 of SFr46 million ($26.68 million) as product problems and extraordinary warranty payments weighed on second-half earnings.

Gretag Imaging also said that it expected a decline in sales this year and warned that new orders were well below expectations due to the uncertain economic environment in the United States.

The company said it intended to cut a further 340 jobs worldwide, with 100 of those affecting the Swiss workforce. Job cuts will also be carried out in the US and Italy.

The latest redundancies come on top of 200 already announced in February. Fifty temporary workers were laid off at the company's plant in Regensdorf.

Performance problems with some of its equipment caused a liquidity crisis at the beginning of the year after the US firm, Qualex, temporarily withheld payments.

swissinfo with agencies

In compliance with the JTI standards

In compliance with the JTI standards

More: SWI swissinfo.ch certified by the Journalism Trust Initiative

Contributions under this article have been turned off. 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.

Share this story

Change your password

Do you really want to delete your profile?