Cargo Sous Terrain cuts jobs
Published: Thursday, Jun 27th 2024, 18:10
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The Swiss logistics project Cargo Sous Terrain (CST) is facing major challenges. Originally, an underground tunnel connecting Switzerland from Geneva to Lake Constance was to be built by 2031. However, there are now delays and a reduction in staff, as CST confirmed on Thursday at the request of AWP.
The "Handelszeitung", "Blick" and "Inside Paradeplatz", among others, initially reported on this. A spokeswoman has now confirmed that there will be a single-digit number of redundancies. CEO Peter Sutterlüti is also withdrawing from the operational business. A successor has not yet been presented.
However, the current Head of Business Plan and Project Controlling, Stefan Schraner, will prepare the realignment as "CEO ad interim". He will ensure continuity until the CEO position is permanently filled in the second half of the year, according to the statement.
Delay in the approval process
The mega-project, which is supported by major Swiss companies such as Coop, Helvetia, Migros, Mobiliar, Swiss Post, Swisscom, Vaudoise and ZKB, was to be financed entirely privately. It promised to reduce heavy traffic on national roads by up to 40 percent. Despite an investment of CHF 100 million and the potential for considerable environmental benefits, there are now doubts about the economic viability and feasibility of the project.
CST itself wrote that it is foreseeable that the final submission of the approval documents will not take place in 2025 as planned. CST will communicate the new timetable for the construction and operation of the first section once the project review has been carried out and agreed with the authorities.
©Keystone/SDA
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