Daetwyler confirms 50 job losses at Altdorf

ERJ staff report (DS)

Altdorf, Switzerland - Further to an announcement at the company's annual results meeting that up to 100 jobs would be lost at the company's cable plant in Altdorf, Daetwyler has concluded negotiations with its employees. While all 100 jobs will go, around 50 can be re-located to other activities within the group, resulting in a total of less than 50 redundancies.

Daetwyler said, “The number of actual terminations in the course of the next twelve months will thus be below 50, the first 15 of which are foreseen for end April 2011.” The company added, “All employees affected by these measures will benefit from a comprehensive redundancy scheme to the amount of CHF 2.6 million. This will focus on the reintegration of the employees concerned involving a job placement centre as well as on alleviating cases of economic hardship.”

On 22 March, Daetwyler said, “Because the Cabling Solutions Division produces in Switzerland, it is particularly vulnerable to the weakness of the euro. Since Datwyler expects the euro to remain at a low level in 2011, the financial situation at the Altdorf site remains extremely critical.” Daetwyler said production of lift cables would be moved to China. This and other moves would result in the loss of about 100 jobs in the period until 2012.

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Press release (End of negotiations) from Daetwyler

Press release (Results meeting and Altdorf restructuring) from Daetwyler