Climeworks cuts 106 jobs Zurich-based air conditioning company lays off a fifth of its workforce

Zurich start-up Climeworks is making a mass redundancy. 106 jobs are being cut, including 78 in Switzerland.

"After a phase of strong growth, Climeworks is proactively adapting its organization to maintain agility and efficiency," the Zurich-based company writes on its website. What reads positively actually means: "We will cut up to 106 jobs worldwide, 78 of which will be in Switzerland."

The climate company Climeworks has developed systems that extract CO₂ from the air and store it in the ground. Two plants are now in operation in Iceland.

Negotiations on a social plan are currently underway in Switzerland, the company adds. Climeworks will expand its core technology and further diversify its commercial offering.