Oerlikon plans 1,000 further layoffs

23 Jan '09

1 min read

Oerlikon wishes to clarify today's announcement in the press to the effect that the company is planning over 1,000 further layoffs. Over the last four months, several segments of the Group have taken measures to secure their results, acting on their own authority within the Group's decentralized entrepreneurial structure.

These measures include an unavoidable reduction of staff levels worldwide, with around 50 percent of temporary workers. The implementation started as from the fourth quarter 2008 and includes temporary contracts not renewed and vacancies not replaced. In total, 1,000 employees are affected.

About Oerlikon:
Oerlikon is one of the world's most successful high-tech industrial groups specializing in machine and plant engineering. The company is a leader in the field of industrial solutions and innovative technologies for textile manufacture, thin-film solar and thin-film coating, drive, precision and vacuum systems.

With roots in Switzerland and a long tradition stretching back 100 years, Oerlikon is a global player with a workforce of more than 19,500 at 170 locations in 35 different countries. The company's sales amounted to CHF 5.6 billion in 2007 and it ranks either first or second in the respective global markets.

Oerlikon

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