Troubled waters in Rolle
LAUSANNE, SWITZERLAND – The young Yahoo! firm in Rolle, which will move into its specially-built offices in June, is reported by RTS, Swiss public broadcasting, to be laying off “one or two dozen” workers.
RTS cites the city manager of Rolle; the company itself confirmed that it has alerted the town to planned layoffs, but did not provide details.
The cutbacks are part of a larger restructuring by troubled Yahoo! in the US, which announced Tuesday that it is suing Facebook for infringing 10 copyright patents.
The company moved its European head office from London to Switzerland in 2009, bringing some 70 employees, part of a technology businesses boom that has taken Rolle’s population from 4,500 to 6,000 in 10 years.
Half of the population now foreigners, swissinfo reported a year ago.
The view from Vaud
Lausanne, Switzerland (GenevaLunch) – The Vaud cantonal government said 27 October that it projects annual budget deficits of between CHF70 million to CHF360 million over the four years from 2011-2014, the result of its periodic review of cantonal finances. In part, it says, the revision is a reflection of the economic crisis that affects everyone.
Switzerland’s GDP is expected to rise only 0.4 percent in 2010. In Vaud, tax receipts are projected to rise an average of 1.5 percent annually for the foreseeable future, less than expected earlier. Unemployment is sure to rise, further straining the canton’s finances. The deficit is expected to rise by CHF1.8 billion until 2014 with an attendant interest service cost of CHF95m.
