Philip Morris cuts 120 posts in Switzerland
Tobacco giant Philip Morris International (PMI) said Saturday that it was cutting up to 120 posts at its operations in Switzerland.
The Swiss-based company said that it would avoid having to make any forced lay-offs under the restructuring programme for its plant in western Neuchatel and that the losses could be absorbed through retirements or voluntary redundancies.
"A maximum of 120 out of the 1,500 permanent employees" at Neuchatel would be affected by the plan, said a statement by the company which manufactures brands such as Marlboro and Chesterfield.
© 2011 AFP