The process of adjusting and optimizing capacities reportedly continues in line with the plans announced on 14 March 2024. These capacity adjustments were emphasized to be crucial for the long-term optimization and safety of the production facilities in Switzerland, Germany, and France.
Swiss Steel Group stated that as part of this plan, weekly working hours are to be reduced, a further 530 positions eliminated, and an additional 270 full-time positions adjusted on a cost-equivalent basis.
Deutsche Edelstahlwerke in Germany reported that weekly working hours to be decreased by 15% and that these steps start immediately to be fully implemented in 2025. It was emphasized that 130 of the 750 workers at the Emmenbrücke plant in Switzerland planned to be reduced and that both production and administrative areas affected by this planning. With these arrangements, Swiss Steel Group plans to reduce its workforce to less than 7,000 by the first half of 2025.
CEO Frank Koch made important comments about the plans by stating: "The milestones achieved through the SSG 2025 program enable us to further transform the organization and align the Group with market needs. These cuts are painful, but unfortunately unavoidable."
Comments
No comment yet.