SWITZERLAND. Swiss Army knives maker Wenger plans to cut 35 jobs, after its turnover halved following a ban on the sale of knives in airport duty free shops.
The company has been suffering from surplus capacity and falling sales. Since the 11 September terrorist attacks in 2001, Wenger’s turnover has halved, mainly because the company’s knives have been banned from airport duty free shops for security reasons, the firm said.
In addition, Wenger was put under pressure by competitors in the knives market, above all Chinese producers.
Wenger’s management is in talks with trade unions about its job-cutting plans. The outlook for 2005 does not show an upturn in sales, so the company is forced to restructure, it said.
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