Sulzer cuts 100 head office jobs in Winterthur
Sulzer, the Swiss industrial engineering and manufacturing firm, announced on Thursday that it is axing 300 jobs, including 100 positions at its Winterthur headquarters.
The company said the administrative streamlining was part of a process that would cut costs by 25 million francs ($27.6 million) a year starting in 2014, although the restructuring process itself is expected to cost 25 million francs, largely to deal with the layoffs.
A consultation process is under way with employees in Winterthur, Sulzer said.
Other jobs will be cut at the company’s operations outside of Switzerland.
The company reported that order intake increased 1.8 percent to three billion francs ($3.3 billion) in the first nine months of 2013 compared to the same period a year earlier “while sales were on the same level”.
Sulzer’s pumps business accounts for more than half of its sales but the division has been hit by slow demand for wastewater pumps in Europe, the company said.
Meanwhile, the company said it is looking to sell its Sulzer Metco division, a surface coating equipment and services with customers, among others, in the automotive industry.
The process for the division’s “potential sale . . . is progressing well”.
Sulzer is set to report full-year results for 2013 on February 20th 2014.
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The company said the administrative streamlining was part of a process that would cut costs by 25 million francs ($27.6 million) a year starting in 2014, although the restructuring process itself is expected to cost 25 million francs, largely to deal with the layoffs.
A consultation process is under way with employees in Winterthur, Sulzer said.
Other jobs will be cut at the company’s operations outside of Switzerland.
The company reported that order intake increased 1.8 percent to three billion francs ($3.3 billion) in the first nine months of 2013 compared to the same period a year earlier “while sales were on the same level”.
Sulzer’s pumps business accounts for more than half of its sales but the division has been hit by slow demand for wastewater pumps in Europe, the company said.
Meanwhile, the company said it is looking to sell its Sulzer Metco division, a surface coating equipment and services with customers, among others, in the automotive industry.
The process for the division’s “potential sale . . . is progressing well”.
Sulzer is set to report full-year results for 2013 on February 20th 2014.
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