More jobs cut at Huber and Suhner
Huber and Suhner says it will cut hundreds of jobs after seeing group sales fall nearly 20 per cent and orders decline more than 30 per cent over the last ten months.
The maker of communications technology and polymer systems says it will cut 450 of its 2,500-strong Swiss workforce and cut 200 jobs at foreign units. The firm had already slashed 440 jobs earlier this month, primarily in the United States, Canada and Britain.
Those affected in Switzerland are employed at sites in Kollbrun and Pfäffikon in Canton Zürich and Herisau in canton Aargau. It’s hoped that most of the cuts can be made through early retirement and natural wastage though there will also be redundancies.
Huber and Suhner says it now expects a net loss for the year as a whole and annual sales of some SFr700 million ($427 million), down from SFr908 million the year before.
swissinfo with agencies
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