Atlantic Zeiser will introduce shorter hours for about 40% of its workforce at its plant in Emmingen, Germany, from 1 March.
The firm, which manufactures machinery and systems for the international security printing and cards industries, says the cyclical investment goods business has suffered a severe decline in demand since last autumn.
The firm is an Orell Füssli group company. Orell Füssli is an international and trading group focusing on the core business of banknote and security printing, industrial systems used in the personalisation of security documents and branded products, and book retailing. Orell Füssli generates sales of CHF370 million with 1,100 employees at locations in 10 countries.