Employment is stable despite downsizing wave

Job cuts have been announced almost daily in Switzerland in recent weeks. Swiss bank UBS made the biggest reductions, losing 2,500 jobs in Switzerland, and other firms are heading in the same direction. But economists aren’t worried yet.

Sizeable cuts have also been made at pharmaceutical supplier Lonza, Swisscom and HP. But these aren’t signs of a crisis yet, since jobs have been created in other areas. (SF/swissinfo.ch)