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Switzerland: Swiss manufacturing lobby warns of danger to jobs of strong Swiss franc

The president of Swissmen, Mr. Hans Hess, has warned that the strong franc could mean up to 10 000 job losses  in mechanical and engineering companies during the fiscal year 2012. At the same time, he stressed that there would still be some 320 000 positions in this sector.

Mr Hess believes that if the Swiss franc is maintained at the level set by the Swiss National Bank of 1.20fr to the euro, then there will be no de-industrialization although many Swiss manufactures will be forced to cuts costs in order to boost their competitiveness in export markets.

Source : Swiss info, 23.10.2011

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