Vaud-based company Sicpa cuts up to 120 jobs
Published: Thursday, Oct 10th 2024, 15:50
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The Vaud-based company Sicpa is cutting up to 120 jobs in the canton of Vaud. The company, which specializes in security printing inks, is citing a complicated international economic environment and the current geopolitical tensions as the reasons for this.
Sicpa's management is planning a series of financial and operational measures that should be implemented by the end of the year, a spokesperson for the company confirmed to the Keystone-SDA news agency, as reported by the news portal rts.ch.
These would affect the entire Group and all of its units. "In terms of employment, this restructuring could lead to the loss of up to 120 jobs in Switzerland," he emphasized.
A consultation process has been initiated with employees to allow for suggestions and ideas that could limit the scope of the planned measures.
The manager did not want to comment on possible cuts abroad. The Group is active in over 40 countries. It has 3000 employees worldwide, 1000 of whom are based in Switzerland at its headquarters in Prilly and at its industrial site in Chavornay in the canton of Vaud.
The multinational company specializes in inks for banknotes and other security and value documents such as passports and ID cards. According to the company, it suffers from the effects of geopolitical crises because its customers are mainly countries and their governments.
Sicpa had already made savings in 2017 and cut around 150 jobs in Prilly.
©Keystone/SDA
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