Switzerland’s biggest construction company says it is planning a reorganisation that will involve layoffs, write-downs and the sale of parts of the company.
A total of up to 2,000 full-time equivalent (FTE) positions will be affected by the restructuring by 2023, Implenia said in a statementExternal link on Tuesday. About 750 redundancies are planned, 250 of them in Switzerland. Around 1,250 FTEs are set to be transferred to new ownership.
Implenia, based in Dietikon near Zurich, said it intended to focus on integrated construction and real estate services in Switzerland and Germany. Only tunnel construction and related infrastructure projects are planned in other markets.
The steps are expected to generate savings of more than CHF50 million ($55 million) a year by 2023. The restructuring costs amount to about CHF60 million.
In addition, the company estimates that the continuing negative impact of Covid-19 will cost around CHF50 million in 2020, and operating earnings before interest, taxes, depreciation and amortisation (EBITDA) are therefore expected to fall by CHF70 million.
Implenia employs more than 10,000 people in Europe and posted revenue of over CHF4.4 billion in 2019.
More
More
Robots will help us manage Covid-19, but not in the way we think
This content was published on
Covid-19 could be a boon for the robotics industry, leaving companies to decide when and where humans are better than machines.
Swiss national science foundation funded over 5,000 projects in 2023
This content was published on
In 2023, the Swiss National Science Foundation (SNSF) provided a total of CHF961 million worth of funding towards research projects.
Switzerland invites 160 delegations to June Ukraine peace talks
This content was published on
Russia is currently not among the delegations invited to talks aimed at helping bring about peace in the conflict between Moscow and Ukraine.
Survey: air travel most popular way to go on holidays for Swiss
This content was published on
Despite the climate crisis, flying is the most popular mode of transport for private travel – particularly among young, urban and high-income travellers.
Swiss government to use phone data to identify asylum seekers
This content was published on
From April 2025, authorities plan to be able to analyse data from mobile phones, computers and other data carriers to identify asylum seekers.
Young undocumented migrants gain easier access to vocational training
This content was published on
Rejected asylum-seekers and young undocumented migrants in Switzerland will have easier access to basic vocational training from June 1.
Migration: Swiss government wants to shorten reunification period for families
This content was published on
Family members of people temporarily admitted to Switzerland should in future be able to join them after two years instead of three.
This content was published on
2023 was a record year for the Rhaetian Railway in several respects. Never before has the narrow-gauge railway in Graubünden, eastern Switzerland, transported so many passengers and cars.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Technology firm Ruag International to cut more jobs
This content was published on
The Swiss aerospace and armament company, Ruag, says it will shed up to 150 jobs by the end of next year due to the coronavirus crisis.
Multinationals must take responsibility for supply chain workers in the pandemic
This content was published on
It’s easy to do good during a period of economic growth but it is in times of crisis that companies reveal their true commitment to workers.
This content was published on
More Swiss firms are announcing job cuts after the coronavirus crisis hit their business in the second quarter of the year.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.