Swiss Steel Group announced plans to adjust capacities due to challenging economic conditions and persistently weak demand. The measures include reducing approximately 800 full-time positions across its Swiss and international operations, with cuts impacting both production and sales.
The company stated the reductions are part of its ongoing SSG 2025 strategy, which has already achieved significant cost savings. Weak demand in the European manufacturing sector, low production levels, and limited growth prospects among key customers necessitate these steps to optimize and secure its production sites in Switzerland, Germany, and France.
The workforce adjustment includes eliminating 530 jobs and modifying 270 full-time positions through reduced working hours.
At Deutsche Edelstahlwerke in Germany, weekly hours will be cut by 15pct, with full implementation expected by 2025. The workforce will be reduced to fewer than 7,000 employees by mid-2025.
At the Emmenbrucke plant in Switzerland, 130 of the 750 positions are set to be cut, affecting production and administrative roles. Approximately 80 employees are likely to face layoffs, as natural attrition alone will not suffice. These measures are under consultation, the company confirmed.
Swiss Steel Group stands as a major manufacturer of tool steel and non-corrosive long steel. Within the European market, it ranks as one of the two largest enterprises specializing in alloyed and high-alloyed construction steel.