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Kuoni Switzerland to adopt short-time working

ID: 1003636
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(Thomson Reuters ONE) - Short-time working is to be introduced within the Kuoni Switzerlandbusiness unit on1 September 2009. The measure will affect employees at Kuoni TravelLtd. and at Kuoni Switzerland's subsidiaries, and is designed toretain jobs.In view of the still-difficult overall economic situation andassociated declines in work volumes, Kuoni is to introduce short-timeworking in Switzerland on 1 September 2009. The reductions in workinghours will vary by department and function, and will initially beadopted for an indefinite period.The action follows July's announcement by the Kuoni Group Board ofDirectors, the Kuoni Group Executive Board and the Executive Board ofKuoni Switzerland that their members would all be waiving part oftheir salaries. Over 90 per cent of management employees have alsoparticipated in this voluntary action to help retain jobs.For full documents please see attached links.For further information:_________________________________________Laurence BienzHead Investor RelationsKuoni Travel Holding Ltd.T +41 44 277 4529laurence.bienz(at)kuoni.com announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

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published by: hugin
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Date: 08/26/2009 - 18:45
Language: English
News-ID 1003636
Character count: 0
Firma: Kuoni Travel
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Stadt: London


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