Georg Fisher cuts 2,300 jobs, sees drop in sales

Newswire

* Says Q1 sales down 38 pct to $42 mln * Sees recovery in 2010 * Aims for 8 pct EBIT margin by 2012 ZURICH, May 28 (Reuters) - Swiss car parts supplier and engineering group Georg Fischer said on Thursday it was slashing its workforce by 16 percent after it forecast revenues would slump by a third in 2009. The company, which employs more than 14,000 staff globally, said it would cut 2,300 jobs by 2010, when it sees a recovery. "Although it expects the market to recover gradually, ...

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