Siemens cuts 100 jobs in Switzerland
The German technology giant, Siemens, is to cut 100 jobs at its Swiss subsidiary in Zurich. More than 30 employees are expected to be made redundant from Zurich's electronics division.
The cuts are part of a restructuring plan, and are scheduled to be carried out before the end of next year. In a statement, Siemens said “employees concerned by the cost-saving measures will benefit from a social plan”.
The German firm said the restructuring was necessary because of an overcapacity in its information and communication divisions. The company added that the measures were also triggered by production problems and a general weakening of sales.
The electronic division’s Zurich-based production facility, which employs 350 people, is to be split up and moved to two new locations. The first is in Bronschhofen in canton St-Gallen, and the other in Fahrweid in canton Zurich.
The redundancies come after 35 jobs were cut from Siemens’ computer services in June. That move followed an 8.1 per cent drop in sales during the first semester of the 2000-2001 business year.
The German giant employs 4,100 people in Switzerland. Its turnover for the year 1999-2000 reached SFr1.99 billion ($1.15 billion).
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