Switzerland – Lonza to Cut Jobs

Lonza Group AG (LONN) said it plans to cut 500 jobs, including 400 at a Swiss site that manufactures chemical intermediates and active pharmaceutical ingredients.

Most of the job losses will come from internal transfers, natural attrition, early retirements and by not extending temporary contracts, the Swiss supplier to the pharmaceutical industry said today in a statement. The Visp, Switzerland site will cut 400 jobs over 24 months to save 100 million Swiss francs ($108 million). A further 100 jobs will go following a review of corporate functions, Lonza said.

“These measures will help increase profitability and make Visp a competitive site,” Chief Executive Officer Richard Ridinger said. Visp currently employs 2,890, according to Lonza’s website…

Choosen excerpts by JMM from

via Lonza to Cut Jobs at Swiss Factory to Boost Profits – Bloomberg.