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flag Swiss firm Pfiffner cuts 80 jobs after U.S. tariff raises machinery prices 50%.

flag Swiss precision engineering firm K.R. flag Pfiffner is laying off 80 of its 105 employees due to a 39% U.S. tariff on Swiss machinery imposed in August, which made its products up to 50% more expensive for American buyers. flag The move follows declining demand in the European auto sector, contributing to broader industrial job losses across Europe, including over 114,000 cuts in Germany and potential losses of up to 30,000 jobs in Switzerland’s mechanical engineering industry by late 2026. flag The company’s parent, FFG, is shifting some production to the U.S., while workers face uncertainty amid economic downturns and reduced consumer spending.

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