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Von Roll to cut 650 jobs

The engineering group, Von Roll, says it is cutting 650 jobs after a disappointing set of results for 1999. The job losses add up to 10 per cent of the company's workforce and will affect employees in Switzerland, France and Italy.

This content was published on February 29, 2000 - 11:33

The engineering group, Von Roll, says it is cutting 650 jobs after a disappointing set of results for 1999. The job losses add up to 10 per cent of the company's workforce and will affect employees in Switzerland, France and Italy.

A statement said retirement and non-replacement of departing staff would account for 300 of the jobs lost. Another 120 will go with the sale of the company's Moudon foundry in canton Vaud, leaving a further 230 redundancies.

The restructuring programme is to be named "Focus 2000" and will cost more than SFr100 million. It comes after the company's net profit for 1999 slid to SFr2 million. That's down from SFr30 million the year before.

The drop came despite a rise in turnover of eight per cent, to SFr1,5 billion.

The company said that it expected the restructuring plans to lead to cost savings and improved results for the year 2000. Von Roll also said the improved business outlook should help.

"In the first few weeks of the current year," it said in a statement, "all three business divisions noted pleasing order inflow pointing to a revitalisation of business."

Von Roll Holding is made up Inova (environmental engineering and technology), Isola (electrical insulation) and Infratec (industrial casting).

From staff and wire reports

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