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Unaxis cuts 600 jobs

Unaxis is cutting back Keystone

The technology group, Unaxis, said on Tuesday it will cut 600 jobs by the end of next year. It cited an extraordinary decline in the information technology market.

This content was published on October 2, 2001 - 15:34

Unaxis said the cuts, representing 7.5 per cent of the company's workforce, would affect all levels and would be carried out through natural attrition wherever possible. A total of 190 jobs are to be cut in Switzerland and Liechtenstein, with 90 of those being direct layoffs.

"The extent of the market decline is extraordinary and it is being exacerbated by current developments in the world economy," said a company statement.

The group said it was also assuming that weakness in demand in its key markets would continue next year. It added that a decrease in order intake, already mentioned during the release of its first-half results, had continued.

Unaxis was formed from the technology-related activities of the former industrial conglomerate, Oerlikon-Bührle. Its products include semi-conductor and data storage systems, flat panel displays and optical components.

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