Gretag Imaging cuts 50 jobs

Gretag Imaging has over-estimated growth forecasts. Gretag

Gretag Imaging is to cut 50 jobs at its plant in Regensdorf. The digital imaging technology group said those affected would be mostly part-time workers at the site, which employs around 500 people in total.

This content was published on February 14, 2001 minutes

The announcement, on Wednesday, came after a company spokesman acknowledged media reports that the company is facing liquidity problems.

"Gretag has a slightly tight liquidity situation but it is not dramatic," said Thomas Harder.

The group has had to drastically revise growth forecasts recently and investment outlays have also weighed on the company.

In addition, Gretag is waiting for outstanding payments from the American company, Qualex. Qualex accounts for around 50 per cent of Gretag's turnover.

Because of technical problems with thousands of mini-laboratories, the former head of Gretag, Peter Fitzgerald, had guaranteed the delivery of spare parts and servicing. These promises proved difficult to meet and Fitzgerald left the company in November.

But Harder says there will soon be an agreement with Qualex that will see the company resume payments.

Gretag employs 2,600 people worldwide. It's not clear whether there will be any further redundancies apart from those announced in Switzerland.

swissinfo with agencies

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