Corona virus crash – OC Oerlikon cuts hundreds of jobs – News story

• The OC Oerlikon industrial group suffered the corona crisis in the first quarter of 2020: order intake and sales decreased significantly.
• Operating profit fell 40 percent, the company said.
• The closure in China was felt in the “Artificial Fibers” segment: the surface felt the beginning of the blockade in Europe and other parts of the world.
• As part of a previously announced productivity program, 800 surface jobs are now being cut.

While the synthetic fibers sector is likely to recover soon, the negative effects on surface technology started later, but they are likely to slow the business more sustainably. In response, the group plans to cut costs and cut jobs.

The job cuts will take place across borders, the company said. The surface solutions business decreased 14 percent in order intake and 12 percent in sales; Overall sales fell 15 percent to 529 million Swiss francs in the first quarter, according to a statement.

Weakness in the auto sector was exacerbated by the crown crisis and the shutdown in China caused disruptions in the supply chain. The aviation industry is also facing an unprecedented shutdown.