Restructuring hits Georg Fischer subsidiary
The Georg Fischer industrial concern of Schaffhausen says 281 jobs are to be lost in Switzerland at its subsidiary AgieCharmilles, which makes machine tools.
Of the jobs to disappear, 168 will go at the AgieCharmilles plant near Geneva, which currently has a workforce of 400.
Other losses will be made at sites at Losone, Nidau and Luterbach. AgieCharmilles would then employ around 1,000 people in Switzerland.
Georg Fischer said the restructuring was part of its programme announced in May to meet falling demand. The group indicated then that 2,300 jobs would be lost.
A statement said that with global demand for machine tools continuing to slump, there was "no let-up in the impact on the business of AgieCharmilles".
It added that the Geneva site would continue to be in charge of research and development as well as host the centre for new technologies and the headquarters of AgieCharmilles.
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