Construction: Implenia announces 2,000 reductions …

Implenia is restructuring and plans 2,000 job cuts by 2023. The construction group immediately predicts that 750 jobs will fall by the wayside, including 250 in Switzerland, according to a press release on Tuesday.

The company also expects annual savings of more than 50 million francs by 2023.

More than 1000 positions transferred to other owners

The press release states that the group is also planning to cede around 1,250 full-time positions to other owners. Implenia is working on reducing its assets by almost 20%. In total, the restructuring costs will reach almost CHF 60 million.

For the current financial year, the group anticipates an operating loss (EBITDA) of around 70 million francs and calculates depreciation of around 200 million.

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