Swiss maintenance provider SR Technics is to reduce its Zurich workforce from 1,500 to 1,300 over a two-year period.

"Switzerland belongs to the world's most expensive economies," notes the company, adding that its decision follows "a detailed review of its operation".

It says it intends to add 100 new positions at its engine services division, but will meanwhile cut headcount at its aircraft services unit by "potentially" 300.

A consultation process begins today, and SR Technics is vowing to do "everything in its power" to "keep possible redundancies... to a minimum".

In 2016, China's HNA Group acquired an 80% stake in SR Technics.

Source: Cirium Dashboard