by In in seven employees of Switzerland’s second-biggest telecoms company is set to lose his or her job. © Keystone/Christian Beutler Switzerland’s second biggest telecoms group, Sunrise UPC, says it will cut 600 jobs by the end of 2022, following UPC’s CHF6.8 billion (.4 billion) takeover of Sunrise Communications last year. About 450 redundancies are expected, representing 13.5% of the company’s 3,350 full-time posts, Sunrise UPC said in a statement on Monday. About 300 redundancies would take place this year and 150 in 2022. In addition, around 150 jobs would be reduced through attrition by the end of 2022, it said. Experts say the cuts are more modest than initially announced in January. Representatives of Sunrise UPC and trade unions have conducted an in-depth
Topics:
Swissinfo considers the following as important: 3) Swiss Markets and News, 3.) Swissinfo Business and Economy, Featured, Latest News, newsletter
This could be interesting, too:
Eamonn Sheridan writes CHF traders note – Two Swiss National Bank speakers due Thursday, November 21
Charles Hugh Smith writes How Do We Fix the Collapse of Quality?
Marc Chandler writes Sterling and Gilts Pressed Lower by Firmer CPI
Michael Lebowitz writes Trump Tariffs Are Inflationary Claim The Experts
In in seven employees of Switzerland’s second-biggest telecoms company is set to lose his or her job. © Keystone/Christian Beutler
Switzerland’s second biggest telecoms group, Sunrise UPC, says it will cut 600 jobs by the end of 2022, following UPC’s CHF6.8 billion ($7.4 billion) takeover of Sunrise Communications last year.
About 450 redundancies are expected, representing 13.5% of the company’s 3,350 full-time posts, Sunrise UPC said in a statement on Monday.
About 300 redundancies would take place this year and 150 in 2022. In addition, around 150 jobs would be reduced through attrition by the end of 2022, it said.
Experts say the cuts are more modest than initially announced in January.
Representatives of Sunrise UPC and trade unions have conducted an in-depth evaluation of the restructuring process, according to a joint statementExternal link by the company and the syndicom trade union.
A Sunrise spokesman told the Swiss news agency Keystone-SDA that jobs in the back office, and management level are more affected by redundancies than customer service units.
Liberty Global, the parent company of Sunrise UPC, concluded the takeover last November to become the main competitor of the majority state-owned Swisscom.
You Might Also Like
Weekly SNB Sight Deposits and Speculative Positions: SNB buying euros at high prices
2021-04-26
Update April 26 2021: SNB intervening. Sight Deposits have risen by +0.2 bn CHF, this means that the SNB is intervening and buying Euros and Dollars: The change is +0.2 bn. compared to last week.
Swiss firms get international boost for exports
2021-04-21
The government has pledged CHF7.8 million ($8.5 million) over the next three years to help Swiss companies participate in major infrastructure projects abroad.
Swiss firms hold out hopes in US infrastructure upgrade
2021-04-04
US President Joe Biden’s major infrastructure plan is raising high hopes for Swiss firms in the construction and building industry. Although first contracts are expected to go to local firms, experts believe Swiss firms could score opportunities thanks to their specialisation and presence in the US market.
Pandemic pushes Swiss away from cash
2021-02-23
Cash has lost its appeal among the Swiss population as the coronavirus pandemic led more people to pay by bank card, mobile app or online, a recent survey has found.
Some Swiss cantons call for earlier restaurant re-openings
2021-02-21
Several cantons have called for restaurants to be re-opened a month earlier than the official nationwide plan presented by the government earlier this week.
Report shows slump in foreign investment in Swiss real estate
2021-02-15
The share of foreign investment in Swiss commercial real estate fell from 15% before 2011 to 5% between 2017 and 2019, according to new research. The issue of foreigners buying cheap Swiss property during the Covid-19 pandemic is being discussed in Bern.
Manser diaries donated to Basel museum
2021-01-27
The diaries of Bruno Manser, a Swiss environmental and human rights activist, have been donated to the Museum der Kulturen in Basel.
Will vaccination campaign convince hesitant Swiss?
2020-11-16
Faced with considerable public scepticism towards a Covid-19 vaccine, the Federal Office of Public Health is preparing an information campaign about vaccinations. However, the country’s top hospital hygienist thinks offering incentives is a better way to make people get a jab.
Tags: Featured,Latest news,newsletter