The crisis in the automotive industry is also hitting Switzerland hard. Thyssenkrupp Presta, a group specialising in the production of steering systems for cars, will cut up to 570 jobs in Liechtenstein and the Swiss canton of Appenzell Inner Rhodes. Over the next 12 months, the workforce will be reduced by a quarter, the subsidiary of the German giant Thyssenkrupp based in Eschen, Liechtenstein, told news agency AWP. +Get the most important news from Switzerland in your inbox Most of the jobs will be lost in Eschen itself, where the company employs 2,000 people, the spokesperson pointed out: the axe will mainly hit the administrative sectors. Thyssenkrupp Presta currently still employs 120 people in Switzerland. Negotiations with the workers' representatives are ongoing. "The situation is serious: our current structures do not allow us to compete sustainably internationally," said a Thyssenkrupp group executive, quoted in a statement. The reduction of jobs is intended to ensure ...
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