Swiss Steel Group Initiates Capacity Adjustments Amid Weak Demand

On November 15, 2024, Swiss Steel Group announced significant capacity adjustments in response to ongoing weak demand and economic conditions. The company plans to reduce its workforce by approximately 800 full-time positions, affecting sites in Switzerland, Germany, and France. This decision aligns with the ongoing SSG 2025 strategy aimed at optimizing production and reducing costs.

The adjustments, impacting the European production sites, include a cut of 530 positions, along with a reduction in weekly working hours affecting 270 jobs. At Deutsche Edelstahlwerke in Germany, working hours will decrease by around 15%. These changes will be fully implemented by 2025, lowering the workforce to under 7,000 employees.

In Switzerland, the Emmenbrücke plant will see a reduction of 130 of its 750 jobs, with expected terminations of 80 employees. CEO Frank Koch acknowledges the necessary but difficult nature of these measures for market alignment.