October Unemployment figures from the State Secretariat for Economic Affairs (SECO) awaited. October 2020 Job Cut Announcements 30/10/2020 Swarovski shareholders approve 6,000 job cuts and hundreds of store closures Swarovski shareholders approved the biggest overhaul in the crystal maker’s 125-year history, including 6,000 job cuts, after years of heated discussions among factions of the founding family. The decision means various Austrian and Swiss units will be folded into an Austrian family company with the headquarters remaining in the Alpine town of Wattens, near Innsbruck. The new structure should allow faster decisions about new products, personnel and investments, management has said. While legal disputes are likely to follow, the company has said it won’t stop the process. Buchbauer has said the company needs to offer fewer but more exclusive items under its own brand, and cut back its network of 3,000 boutiques. The 6,000 previously announced job cuts equal about 20% of Swarovski’s workforce. The turnaround will take two to three years to execute as sales are expected to fall by about a third this year. Read Full Press Release On Bloomberg.com 12/10/2020 RUAG International reacts to Covid-19 impact and accelerates job cuts RUAG International will accelerate its transformation to ensure its
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The latest employment figures show that 85,000 fewer people are employed now than at the same time in 2019. This is the biggest year on year decline since 1993. The second quarter federal labour statistics late August show a 1.6% reduction in employed people in Switzerland compared with this time last year. The drop was slightly higher for women than for men (1.7% and 1.5% respectively). Those in partial unemployment are not classified as out of work, in the statistics. The over 50 long-term unemployed and those off the RAV register seeking work are also not included. The Federal Statistical Office (FSO) said weekly hours per employed person fell by 9.5% in this period and there is a gender imbalance as more women were impacted. 223,000 people are now unemployed – that’s 17,000 more than 2019. Young people (15-24 years old) were particularly affected by the crisis: while the unemployment rate for the whole population climbed from 4.2% to 4.6%, it increased from 6.2% to 8.4% for this segment. Between the second quarter of 2019 and the second quarter of 2020, the number of employed Swiss nationals fell by 2.4%, however when residents with permits are reviewed, there were some
Inform others and share Share on facebook Facebook Share on twitter Twitter Share on linkedin LinkedIn 08.08.2020 – ZURICH The Corona crisis and the full impact of the COVID-19 pandemic continues to dominate the Swiss labour market as unemployment remains well above 2019 figures for the summer of 2019. Job seekers are seeing some movement with new hiring increasing in July above the number hired in June. The recorded unemployment for July 2020 was a total of 148,870 people who were out of work. This compares to 97,578 registered unemployed for July 2019. That number is 1419 fewer than in June and “Kurzarbeit” (Swiss government supported employment scheme for short-time working) has enabled many to keep their jobs for the moment. The unemployment rate remains close to 3.2% which is still better than predicted during the height of the pandemic in April and May. Zurich has a problem, just like elsewhere in Switzerland because the unemployment issue affects the over-45s and the young disproportionately. Youngsters leaving school seeking an apprenticeship are struggling to find one, in 2019 it was easier and school-leavers are also struggling. In 2019 unemployment for the young was almost half with only c.300 young adults without work.