Thyssenkrupp Cuts 570 Jobs in Swiss-Liechtenstein Operations

Thyssenkrupp Presta, a leading automotive steering systems manufacturer, has announced a significant workforce reduction of 570 jobs across its operations in Switzerland and Liechtenstein. The cuts, representing 25% of the total workforce, will be implemented over the next 12 months as part of a major restructuring effort to maintain international competitiveness.

The majority of the job losses will be concentrated in Eschen, Liechtenstein, where the company currently employs 2,000 people. The administrative sectors will bear the brunt of these reductions. In Switzerland, where the company maintains operations in the canton of Appenzell Inner Rhodes with 120 employees, the impact will also be felt. This restructuring marks a significant shift in the company's local presence and raises concerns about the broader economic impact on these regions.

The decision comes amid ongoing challenges in the global automotive industry. According to company executives, the restructuring is necessary to ensure long-term sustainability and international competitiveness. A Thyssenkrupp group executive emphasized the severity of the situation, stating that current structures are not conducive to sustainable international competition. This move reflects broader trends in the automotive supply sector, where companies are adapting to changing market conditions and increasing global competition.

The company has initiated negotiations with workers' representatives to manage the transition process. While specific details of any support packages have not been disclosed, the implementation of the job cuts will be phased over a 12-month period. This gradual approach aims to minimize the immediate impact on affected employees and allow time for transition planning. The company's management continues to engage in dialogue with relevant stakeholders to ensure a structured and responsible implementation of these changes.