Zurich, Switzerland - The Conzetta Group, which includes FoamPartner, is introducing measures to "adapt to the market environment," including job cuts and capacity adjustments, the company said 24 June.
Conzzeta said that since the end of 2008 its Foam Materials business (FoamPartner) has seen a "substantial" decline in sales. The company has already made temporary capacity adjustments to reduce costs, and will cut five jobs at the Swiss plants in Wolfhausen and Gotenschwil, the statement said.
The group said its machinery and systems engineering business are facing declines of up to 60 percent in orders and the company will have to make 400 job cuts worldwide.
"We are very concerned that the slump and the subdued outlook for the period ahead leave us with no alternative but to cut numerous workplaces in the affected business units," said Robert Suter, Conzzeta ceo. "Unfortunately, these measures are unavoidable if we are to maintain our competitiveness and innovation potential," he added. (RD)