Swiss Steel Group to Lay Off Approximately 800 Employees in Switzerland and Abroad

Swiss Steel Group is set to lay off approximately 800 employees in its main market of Switzerland and abroad due to weak demand in European manufacturing, low production levels, and a stagnant growth outlook. CEO Frank Koch stated, “The cutbacks are painful, but unfortunately unavoidable.” The company indicated that the steps being taken aim to ensure the long-term optimization and safety of Swiss Steel's production facilities in Switzerland, Germany, and France. The layoffs will primarily affect production plants and the sales organization in Europe. The number of employees is expected to drop below 7,000 in the first half of 2025. In the Emmenbruecke factory in Switzerland, 130 out of 750 jobs will be eliminated, impacting both production and administrative areas. The company noted that natural attrition alone would not be sufficient, necessitating the dismissal of approximately 80 personnel.