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Business
Lonza Boosts Workhours At Visp
by Marc S. Reisch
July 4, 2011
| A version of this story appeared in
Volume 89, Issue 27
Active pharmaceutical ingredients maker Lonza has increased the weekly workhours for all employees at its main Visp, Switzerland, site from an average of 41 to 43 hours. The longer workhours—at no increase in pay—will remain in effect for the next 18 months to help make up in part for the strong Swiss franc, increasing raw material and energy costs, and aggressive pricing by competitors. Lonza is projecting a revenue shortfall this year of between $71 million and $83 million just from the unfavorable currency exchange rates.
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