Alstom to cut half of jobs at Swiss rail factory: labour group

[ZURICH] French engineering group Alstom plans to cut about half the workforce at its Neuhausen factory in Switzerland, a Swiss labour group said on Friday.

The move comes about a month after Switzerland's central bank abandoned a cap on the franc against the euro, prompting export-reliant firms across the country to warn of a plunge in profits.

Between 50 and 60 of the 109 jobs at the Neuhausen factory, which makes the wheels framework for trains, are to be cut over the next two years, Employees Switzerland said.

"Apparently the Neuhausen site cannot compete with the other (Alstom) transport facilities in Europe in terms of pricing," it said in a statement.

Alstom, which is selling most of its power equipment business to General Electric to focus on its rail arm, said it had no immediate comment.

REUTERS