the swiss times

the swiss times

Swiss Steel Industry Relies On Subsidies: Job Cuts

Swiss Steel Industry Relies On Subsidies: Job Cuts

Thu, May 23rd 2024

Federal council supports Swiss steel industry with current and future measures, for now.

KEYSTONE/Michael Buholzer

The Swiss steel industry is relying on, the federal council for upcoming energy and climate policies.

On Wednesday, the government discussed a motion by former Solothurn SP Councillor Roberto Zanetti, adopted by parliament, which seeks to address market imbalances in the steel and aluminum industries caused by EU measures.

Economics Minister Guy Parmelin shared the discussion results at a media conference in Bern. The federal council aims to combat market distortion and protectionism internationally. The new CO2 Act and Climate Protection Act will help these companies decarbonise through investment contributions.

The federal council also noted a significant drop in energy prices and potential easing of grid costs.

The government will consider exempting large-scale consumers from the electricity reserve surcharge if they agree to reduce operations during shortages.

The Swiss steel industry faces pressure from high energy prices. Stahl Gerlafingen in Solothurn will close one of its production lines in May, cutting 95 jobs. The company cited the “de facto EU import ban on Swiss steel since mid-2023” and “massive distortions of competition due to EU industry support measures” as reasons for the cuts.

©Keystone/SDA

Related Stories

Credit Suisse AT1 Bondholders Sue Switzerland

7 June 2024

Credit Suisse AT1 bondholders file a class action lawsuit against Switzerland, challenging Finma's decision to write...

Consumer Sentiment in Switzerland Unchanged in May 2024

10 June 2024

Consumer sentiment in Switzerland remained steady in May 2024 at -38 points, showing stability compared to April and...

Swiss Pension Funds See Positive Returns Again

11 June 2024

Swiss pension funds gained an average of 1.15% in May, boosted by Swiss and global equities. The year-to-date return...

Over 6% Of Switzerland Has Done Cocaine: New Addiction Centres & Crack Use On The Rise

6 June 2024

The federal government announces new addiction support centers to address the crack cocaine issue. These centers will...

Global Debt Crisis Loom, But Switzerland Is Ok

11 June 2024

Switzerland remains stable amidst rising global debt, leveraging its debt brake policy to maintain financial health....

Unia to Sue Rolex Over Harassment Cases

11 June 2024

Unia sues Rolex for harassment and unlawful dismissals at Geneva headquarters. Rolex claims to have addressed issues...

Swiss Alu Menziken Is Sold To China

12 June 2024

Montana Aerospace sells Alu Menziken to Mengtai Germany, moving towards a focus on aerostructures....

Stay in Touch

Noteworthy

Swiss Life Sees Decline In Occupational Benefit Premiums

Swiss Life Sees Decline In Occupational Benefit Premiums

What Happens To Dormant Assets If Unclaimed?

What Happens To Dormant Assets If Unclaimed?

the swiss times

A production of UltraSwiss AG, 6340 Baar, Switzerland

Quick Links

Home Privacy GTC Contact Us About Us

Copyright © 2024 UltraSwiss AG 2024 All rights reserved

img.wp-smiley,img.emoji{display:inline !important;border:none !important;box-shadow:none !important;height:1em !important;width:1em !important;margin:0 .07em !important;vertical-align:-.1em !important;background:none !important;padding:0 !important;}.wp-block-button__link{color:#fff;background-color:#32373c;border-radius:9999px;box-shadow:none;text-decoration:none;padding:calc(.667em + 2px) calc(1.333em + 2px);font-size:1.125em;}.wp-block-file__button{background:#32373c;color:#fff;text-decoration:none;}body{--wp--preset--color--black:#000;--wp--preset--color--cyan-bluish-gray:#abb8c3;--wp--preset--color--white:#fff;--wp--preset--color--pale-pink:#f78da7;--wp--preset--color--vivid-red:#cf2e2e;--wp--preset--color--luminous-vivid-orange:#ff6900;--wp--preset--color--luminous-vivid-amber:#fcb900;--wp--preset--color--light-green-cyan:#7bdcb5;--wp--preset--color--vivid-green-cyan:#00d084;--wp--preset--color--pale-cyan-blue:#8ed1fc;--wp--preset--color--vivid-cyan-blue:#0693e3;--wp--preset--color--vivid-purple:#9b51e0;--wp--preset--gradient--vivid-cyan-blue-to-vivid-purple:linear-gradient(135deg,rgba(6,147,227,1) 0%,#9b51e0 100%);--wp--preset--gradient--light-green-cyan-to-vivid-green-cyan:linear-gradient(135deg,#7adcb4 0%,#00d082 100%);--wp--preset--gradient--luminous-vivid-amber-to-luminous-vivid-orange:linear-gradient(135deg,rgba(252,185,0,1) 0%,rgba(255,105,0,1) 100%);--wp--preset--gradient--luminous-vivid-orange-to-vivid-red:linear-gradient(135deg,rgba(255,105,0,1) 0%,#cf2e2e 100%);--wp--preset--gradient--very-light-gray-to-cyan-bluish-gray:linear-gradient(135deg,#eee 0%,#a9b8c3 100%);--wp--preset--gradient--cool-to-warm-spectrum:linear-gradient(135deg,#4aeadc 0%,#9778d1 20%,#cf2aba 40%,#ee2c82 60%,#fb6962 80%,#fef84c 100%);--wp--preset--gradient--blush-light-purple:linear-gradient(135deg,#ffceec 0%,#9896f0 100%);--wp--preset--gradient--blush-bordeaux:linear-gradient(135deg,#fecda5 0%,#fe2d2d 50%,#6b003e 100%);--wp--preset--gradient--luminous-dusk:linear-gradient(135deg,#ffcb70 0%,#c751c0 50%,#4158d0 100%);--wp--preset--gradient--pale-ocean:linear-gradient(135deg,#fff5cb 0%,#b6e3d4 50%,#33a7b5 100%);--wp--preset--gradient--electric-grass:linear-gradient(135deg,#caf880 0%,#71ce7e 100%);--wp--preset--gradient--midnight:linear-gradient(135deg,#020381 0%,#2874fc 100%);--wp--preset--font-size--small:13px;--wp--preset--font-size--medium:20px;--wp--preset--font-size--large:36px;--wp--preset--font-size--x-large:42px;--wp--preset--spacing--20:.44rem;--wp--preset--spacing--30:.67rem;--wp--preset--spacing--40:1rem;--wp--preset--spacing--50:1.5rem;--wp--preset--spacing--60:2.25rem;--wp--preset--spacing--70:3.38rem;--wp--preset--spacing--80:5.06rem;--wp--preset--shadow--natural:6px 6px 9px rgba(0,0,0,.2);--wp--preset--shadow--deep:12px 12px 50px rgba(0,0,0,.4);--wp--preset--shadow--sharp:6px 6px 0px rgba(0,0,0,.2);--wp--preset--shadow--outlined:6px 6px 0px -3px rgba(255,255,255,1),6px 6px rgba(0,0,0,1);--wp--preset--shadow--crisp:6px 6px 0px rgba(0,0,0,1);}:where(.is-layout-flex){gap:.5em;}:where(.is-layout-grid){gap:.5em;}body .is-layout-flex{display:flex;}body .is-layout-flex{flex-wrap:wrap;align-items:center;}body .is-layout-flex > *{margin:0;}body .is-layout-grid{display:grid;}body .is-layout-grid > *{margin:0;}:where(.wp-block-columns.is-layout-flex){gap:2em;}:where(.wp-block-columns.is-layout-grid){gap:2em;}:where(.wp-block-post-template.is-layout-flex){gap:1.25em;}:where(.wp-block-post-template.is-layout-grid){gap:1.25em;}.has-black-color{color:var(--wp--preset--color--black) !important;}.has-cyan-bluish-gray-color{color:var(--wp--preset--color--cyan-bluish-gray) !important;}.has-white-color{color:var(--wp--preset--color--white) !important;}.has-pale-pink-color{color:var(--wp--preset--color--pale-pink) !important;}.has-vivid-red-color{color:var(--wp--preset--color--vivid-red) !important;}.has-luminous-vivid-orange-color{color:var(--wp--preset--color--luminous-vivid-orange) !important;}.has-luminous-vivid-amber-color{color:var(--wp--preset--color--luminous-vivid-amber) !important;}.has-light-green-cyan-color{color:var(--wp--preset--color--light-green-cyan) !important;}.has-vivid-green-cyan-color{color:var(--wp--preset--color--vivid-green-cyan) !important;}.has-pale-cyan-blue-color{color:var(--wp--preset--color--pale-cyan-blue) !important;}.has-vivid-cyan-blue-color{color:var(--wp--preset--color--vivid-cyan-blue) !important;}.has-vivid-purple-color{color:var(--wp--preset--color--vivid-purple) !important;}.has-black-background-color{background-color:var(--wp--preset--color--black) !important;}.has-cyan-bluish-gray-background-color{background-color:var(--wp--preset--color--cyan-bluish-gray) !important;}.has-white-background-color{background-color:var(--wp--preset--color--white) !important;}.has-pale-pink-background-color{background-color:var(--wp--preset--color--pale-pink) !important;}.has-vivid-red-background-color{background-color:var(--wp--preset--color--vivid-red) !important;}.has-luminous-vivid-orange-background-color{background-color:var(--wp--preset--color--luminous-vivid-orange) !important;}.has-luminous-vivid-amber-background-color{background-color:var(--wp--preset--color--luminous-vivid-amber) !important;}.has-light-green-cyan-background-color{background-color:var(--wp--preset--color--light-green-cyan) !important;}.has-vivid-green-cyan-background-color{background-color:var(--wp--preset--color--vivid-green-cyan) !important;}.has-pale-cyan-blue-background-color{background-color:var(--wp--preset--color--pale-cyan-blue) !important;}.has-vivid-cyan-blue-background-color{background-color:var(--wp--preset--color--vivid-cyan-blue) !important;}.has-vivid-purple-background-color{background-color:var(--wp--preset--color--vivid-purple) !important;}.has-black-border-color{border-color:var(--wp--preset--color--black) !important;}.has-cyan-bluish-gray-border-color{border-color:var(--wp--preset--color--cyan-bluish-gray) !important;}.has-white-border-color{border-color:var(--wp--preset--color--white) !important;}.has-pale-pink-border-color{border-color:var(--wp--preset--color--pale-pink) !important;}.has-vivid-red-border-color{border-color:var(--wp--preset--color--vivid-red) !important;}.has-luminous-vivid-orange-border-color{border-color:var(--wp--preset--color--luminous-vivid-orange) !important;}.has-luminous-vivid-amber-border-color{border-color:var(--wp--preset--color--luminous-vivid-amber) !important;}.has-light-green-cyan-border-color{border-color:var(--wp--preset--color--light-green-cyan) !important;}.has-vivid-green-cyan-border-color{border-color:var(--wp--preset--color--vivid-green-cyan) !important;}.has-pale-cyan-blue-border-color{border-color:var(--wp--preset--color--pale-cyan-blue) !important;}.has-vivid-cyan-blue-border-color{border-color:var(--wp--preset--color--vivid-cyan-blue) !important;}.has-vivid-purple-border-color{border-color:var(--wp--preset--color--vivid-purple) !important;}.has-vivid-cyan-blue-to-vivid-purple-gradient-background{background:var(--wp--preset--gradient--vivid-cyan-blue-to-vivid-purple) !important;}.has-light-green-cyan-to-vivid-green-cyan-gradient-background{background:var(--wp--preset--gradient--light-green-cyan-to-vivid-green-cyan) !important;}.has-luminous-vivid-amber-to-luminous-vivid-orange-gradient-background{background:var(--wp--preset--gradient--luminous-vivid-amber-to-luminous-vivid-orange) !important;}.has-luminous-vivid-orange-to-vivid-red-gradient-background{background:var(--wp--preset--gradient--luminous-vivid-orange-to-vivid-red) !important;}.has-very-light-gray-to-cyan-bluish-gray-gradient-background{background:var(--wp--preset--gradient--very-light-gray-to-cyan-bluish-gray) !important;}.has-cool-to-warm-spectrum-gradient-background{background:var(--wp--preset--gradient--cool-to-warm-spectrum) !important;}.has-blush-light-purple-gradient-background{background:var(--wp--preset--gradient--blush-light-purple) !important;}.has-blush-bordeaux-gradient-background{background:var(--wp--preset--gradient--blush-bordeaux) !important;}.has-luminous-dusk-gradient-background{background:var(--wp--preset--gradient--luminous-dusk) !important;}.has-pale-ocean-gradient-background{background:var(--wp--preset--gradient--pale-ocean) !important;}.has-electric-grass-gradient-background{background:var(--wp--preset--gradient--electric-grass) !important;}.has-midnight-gradient-background{background:var(--wp--preset--gradient--midnight) !important;}.has-small-font-size{font-size:var(--wp--preset--font-size--small) !important;}.has-medium-font-size{font-size:var(--wp--preset--font-size--medium) !important;}.has-large-font-size{font-size:var(--wp--preset--font-size--large) !important;}.has-x-large-font-size{font-size:var(--wp--preset--font-size--x-large) !important;}.wp-block-navigation a:where(:not(.wp-element-button)){color:inherit;}:where(.wp-block-post-template.is-layout-flex){gap:1.25em;}:where(.wp-block-post-template.is-layout-grid){gap:1.25em;}:where(.wp-block-columns.is-layout-flex){gap:2em;}:where(.wp-block-columns.is-layout-grid){gap:2em;}.wp-block-pullquote{font-size:1.5em;line-height:1.6;}#top-stories .story{cursor:pointer;border-bottom:1px solid #000;padding:8px 0;display:block;text-decoration:none;color:inherit;}.story-title{font-size:16px;font-weight:bold;margin-bottom:5px;color:black;}.story-content{display:flex;align-items:center;}.story-thumbnail{flex:0 0 100px;margin-right:15px;}.story-thumbnail img{width:100%;height:auto;object-fit:cover;}.story-details p{font-size:14px;margin:0;color:black;}.story-date{color:#808080;font-size:12px;}#top-stories .story:hover{text-decoration:none;color:inherit;}#top-stories .story .story-details .story-date{color:#808080 !important;}