- The ailing steel company Swiss Steel is making tough cuts.
- The central Swiss company is cutting around 800 jobs at home and abroad.
- In Emmenbrücke, 130 jobs will be cut from the current 750.
The steel group Swiss Steel is cutting hundreds of jobs, including in Switzerland, due to the current economic conditions and persistently weak demand. At the same time, the realignment of the entire sales organization will continue as planned. This is intended to secure the production sites in Switzerland, Germany and France, said Swiss Steel. The adjustments complemented the ongoing strategy and restructuring program SSG 2025.
It is said that its implementation has already led to significant cost reductions. However, because demand in the European manufacturing industry remains weak, production levels are low and the growth prospects of the Swiss Steel Group’s relevant customers are subdued, further adjustments are needed.
The incisions are painful, but unfortunately unavoidable.
That’s why the company is cutting 800 full-time positions. The capacity reduction is already in final planning and will essentially affect the European production sites and the entire sales organization. It consists of the reduction of 530 jobs and the reduction of working hours for a further 270 full-time positions.
A worker processing steel rods in the warehouse of the bright steelworks in Emmenbrücke.
Keystone/Michael Buholzer
To this end, the collectively agreed weekly working hours at the German subsidiary Deutsche Edelstahlwerke will be reduced by around 15 percent. It is said that these steps will be implemented so promptly that they will be largely effective as early as 2025. Swiss Steel Group will therefore reduce its number of employees to less than 7,000 in the first half of 2025.
130 jobs in Emmenbrücke will be lost
In Switzerland, Swiss Steel is cutting 130 of the current 750 jobs at its Emmenbrücke plant. This elimination affects both production and administrative areas. It is said that the natural fluctuation will probably not be sufficient for this. The company therefore expects to have to lay off 80 employees. become necessary.
Swiss
