Ancient Black Forest family farm declares woodland clearing
In the heart of the Black Forest, a family business with a rich 175-year history, Swiss Electronic AG, has announced a significant job reduction. The company, which is listed on the stock exchanges in Stuttgart and Frankfurt, has its headquarters in Schramberg.
Last year, the company initiated a voluntary program to address financial difficulties. This program, consisting of three components, includes voluntary reduction of working hours, voluntary early retirement, and voluntary termination agreements. It is important to note that this program does not involve any dismissals.
The reasons for the cost adjustments at Swiss Electronic AG include order cancellations and temporary production setbacks. The company's central plant, opened in 1979 and spanning over 22,000 square meters, manufactures printed circuit board solutions.
The economic landscape in Switzerland, and particularly for export-related firms, has been under considerable pressure. Factors such as US tariffs (imposing 39% customs duties), a strong Swiss franc making exports less competitive, and declining orders in manufacturing have led to manufacturing slumps, job cuts, and production relocation plans in Swiss export industries like electronics and watchmaking.
An unbalanced economy can have far-reaching consequences, forcing businesses to act. A strong economy, on the other hand, creates jobs, enables income, taxes, and public investments. It contributes to peace and stability in the country and supports innovations, securing opportunities for future generations. Without a strong economy, funds for important societal tasks are lacking.
It is worth mentioning that other Swiss organizations, such as Swiss Post and climate protection foundations, also face job cuts due to falling profits, rising costs, or market slumps. However, these are unrelated to Swiss Electronic AG specifically.
In 2024, there were more than 250,000 businesses in the country with short-time work. Short-time work involves suspending or reducing working hours to secure jobs during crises, with employees receiving less pay that is topped up by public short-time work allowance from the Federal Employment Agency.
Swiss Electronic AG, currently in its 6th generation of family ownership, is not alone in navigating these economic challenges. The broader context suggests that Swiss export-related firms are under pressure from external tariffs and economic factors, which might indirectly affect companies in the region.
For more detailed reasons about Swiss Electronic AG's layoffs, you would likely need a direct source from the company or focused regional economic news.
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