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 Basic Metals 24.10 - Manufacture Of Basic Iron And Steel And Of Ferro-Alloys
800 jobs Number of planned job losses
Announcement Date
15 November 2024
Employment effect (start)
15 November 2024
Foreseen end date
30 June 2025
Description
Swiss Steel Group, a leading manufacturer of special steels, has announced plans to cut approximately 800 jobs globally by mid-2025.
The programme will affect production sites in Switzerland, Germany, and France, as well as the sales units. A total of 130 jobs will be cut at the Emmenbrücke plant in Switzerland. Most of the cuts will be made abroad, affecting European production sites and the entire sales organization. Swiss Steel's German subsidiary Deutsche Edelstahlwerke will reduce its weekly working hours by around 15 percent. These measures aim to streamline operations, ensure the long-term security of production sites, and reduce the workforce.
Swiss Steel has over 70 service locations in more than 30 countries and employs about 7,600 employees worldwide.
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