Komax to cut jobs, solar market in 'the grips of a crisis'

Komax says it is taking steps to respond to the persistently challenging economic environment facing its Solar and Medtech business units. “The global solar market remains in the grips of a crisis whose end is currently difficult to foresee. As a result, Komax Solar is making further efforts to adapt its structures to the present demand situation,” a press release by the company said. Komax's solar buisness unit has a headcount of 285 employees, most of whom work outside Switzerland. The company plans to reduce this number by 70. Shorter working hours Uncertainty about economic developments is putting a damper on investment activity by Komax Medtech's customers, resulting in further postponements to projects. The company said that Komax Medtech is much more affected by the continuing strength of the Swiss franc than either of the other two business units, resulting in persistent spare capacity at its site in La Chaux-de-Fonds. “To bridge this temporary state of affairs, Komax Medtech is introducing short-time working in June,” the company stated.