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More jobs to go at CSFBdirect

This content was published on May 31, 2001 The cut will contribute to a one-time pre-tax charge of about $16 million (SFr29 million) in the second quarter, and comes on top of a 10 per cent reduction of US staff announced by the firm less than three months ago. About half of the job losses will be in the group’s technology department. CSFBdirect…

Sulzer Medica names new CEO

This content was published on May 31, 2001 Rietiker replaces Andre Buchel, whose planned retirement was delayed because of Sulzer Medica’s impending spin off from the Sulzer industrial conglomerate next month. Rietiker is currently general manager at Covance European Central Laboratory Services in Geneva which employs 300 people. A medical doctor by training, Rietiker has previously worked for Roche and Health and Pharma…

Swiss business makes cautious overtures to Nigeria

This content was published on May 31, 2001 Benin, one of Africa’s poorest and smallest nations with only six million inhabitants, has been one of the main beneficiaries of Swiss bilateral aid for years. By contrast, neighbouring Nigeria, which is rich in oil and Africa’s most populous country with 120 million inhabitants, offers vast business potential – at least in theory. In practice,…

Inflation shows sharp increase

This content was published on May 31, 2001 Data released by the Federal Statistics Office on Thursday showed that higher petrol prices and seasonal increases for items such as clothing and shoes were the main reasons for the rise. The core inflation rate which strips out energy, fuel, tobacco, food and seasonal products was also up 0.5 per cent. Markets were eagerly awaiting…

Roche swallows medicine but recovery may be elusive

This content was published on May 31, 2001 The cuts announced on Wednesday amount to around seven per cent of the drug division’s workforce and are being seen as a last-ditch attempt to modernise its sales structure. The measures aim to restore the unit’s profit margins to between 20 and 25 per cent by 2004, better than today but still below the industry…

Roche to axe nearly 3,000 jobs

This content was published on May 30, 2001 The main cuts will hit the Basel-based group’s operations at Nutley in the United States, where 900 jobs are to be lost. Another 200 jobs will go in the Californian city of Palo Alto. In Britain, some 700 jobs are to be cut at Welwyn, and a further 600 will be axed in Basel. Roche…

Swiss are thinnest people in Europe

This content was published on May 30, 2001 Figures from the Federal Health Office show that 28 per cent of the population is overweight, and that 6.8 per cent of those are obese. Within Switzerland, French-speakers are least likely to be overweight. The figures mean that the Swiss are thinner than any of their European counterparts, while Greece tops the scales with the…

Airports given new 50-year operating licences

This content was published on May 30, 2001 The cabinet extended the licences despite protests from communities in the vicinity of Zurich airport, which have long complained about noise pollution. They had argued that only provisional licences should be awarded, and for much shorter periods. Responding to those complaints, the cabinet laid down new limits on noise caused by the airports, reducing the…

Surveys confirm that Swiss economy is still growing but at slower rate

This content was published on May 30, 2001 The independent company, Basel Economics, said it expected Swiss gross domestic product to rise 2.2 per cent in 2001, while the Institute for Business Cycle Research puts the figure at 2.0 per cent. This compares to a growth rate of more than three per cent for the previous year. Basel Economics reported that the economic…

Thousands of jobs expected to go at Roche

This content was published on May 30, 2001 A report in Britain’s Financial Times newspaper says the company is about to axe 3,000 positions in its flagship drugs division. That amounts to around eight per cent of the unit’s workforce. The restructuring will bring heavy losses at the Basel-based group’s operations in the United States. There are reports that the company may also…

Internal: Archive

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