Machine industry Bystronic plans to cut around 500 jobs worldwide

The machine manufacturer Bystronic plans to cut 500 jobs worldwide as part of its restructuring program. Around 80 jobs are to be cut at the company's headquarters in Niederönz BE. The company had already announced far-reaching measures around two weeks ago.

The job cuts were announced to around 650 employees in Niederönz at a staff meeting on Tuesday morning, as a Bystronic spokesperson confirmed to the news agency AWP. The NZZ first reported on the planned measures on its online site. A social plan is said to be in preparation. According to the latest information, Bystronic employs a total of 3353 people.

With the cost-cutting measures, the specialist for sheet metal processing machines is aiming for annual savings in the mid double-digit million range, as the company announced around two weeks ago. The "comprehensive" restructuring was unavoidable due to market dynamics. Speaking to the NZZ, Group CEO Domenico Iacovelli, who has been in office since the beginning of July 2024, referred not least to the tense situation in the German automotive sector.

In Switzerland, the cutbacks will primarily affect management and central administration in Niederönz, as Iacovelli told the NZZ. In contrast, production at the headquarters is to be largely spared from the restructuring. On the contrary, he plans to strengthen Switzerland as a production location, the CEO said.

In July, Bystronic announced a slump in turnover of around 30 percent to CHF 331 million for the first half of 2024. Order intake also saw a similarly sharp decline of almost 28 percent, with currency effects also having a negative impact. All in all, the company reported a clear half-year loss of around 21 million Swiss francs.

SDA