The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Basic Metal And Fabricated Metal Products Manufacture Of Fabricated Metal Products, Except Machinery And Equipment 25.61 - Treatment and coating of metals
800 jobs Number of planned job losses
Announcement Date
5 May 2020
Employment effect (start)
1 July 2020
Foreseen end date
31 December 2020
Description
The Swiss group Oerlikon has announced 800 job cuts worldwide affecting the surface solutions business unit (10% of the Surface Solutions Segment’s workforce). The reorganisation is announced in the framework of a productivity program, primarily aimed at reducing structural cost in its Surface Solutions Segment. Job cuts will affect all geographies. Group orders for the first quarter decreased by 29.9% to CHF 477 million (€453.59 million), particularly in Asia and Europe. Group sales were 15.2% lower at CHF 529 million (€ 503.04 million), attributed to lower sales across all regions and adverse currency movements. Out of the total jobs cut, 20 positions will be cut in France. Other reduction will affect Switzerland and the US.
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