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Friday, February 27, 2015
Wage cuts and discounts as Swiss companies respond to franc strength
Swiss companies are cutting prices, asking suppliers for discounts, paying staff in euros and demanding new hours to protect profits from a soaring franc currency. The central bank last month abandoned its cap on the Swiss franc, causing the currency to strengthen and prompting firms across Switzerland to warn of a plunge in profits. "We did the math, and would have gone into the red from normal ...
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