New reports from recruitment agency and human resources firm Adecco and 20 Minuten have painted a mixed picture of the job market in Switzerland. On the one hand, many international companies are starting to cut hundreds of jobs across the country, but on the other, the alpine nation is still suffering from a significant and rising shortage of workers, with many roles still in high demand.

Number of vacancies in Switzerland soar

In their analysis of 1.515 companies, Adecco found that the number of vacancies listed in Switzerland has increased by 7 percent compared to last year. They noted that after stagnating in the first half of the year, the number of jobs going unfilled has been growing ever since.

Demand is expected to remain high for the foreseeable future, with the KOF Economic Research Centre at ETH Zurich telling 20 Minuten that a majority of companies still want to hire. They added that much of this growth comes from domestic companies rather than those based internationally.

Which jobs in Switzerland are in most demand?

In terms of the jobs in highest demand in Switzerland, Adecco said that vacancies in the mechanical, electrical and metalworking industries have reached a record high. Martin Meyer, head of Adecco in German-speaking Switzerland, told 20 Minuten that demand for skilled workers in skilled trades is the highest the firm has ever seen. “There is also an increasing demand for assistants with good knowledge of German and initial professional experience,” he added.

Specialists in catering, sales and construction are also highly sought after. In terms of other agencies, job app Yooture reported the most vacancies in the “crafts” industry, followed by IT, sales, clerk jobs, healthcare and construction. For Jobs.ch, Jobup.ch and Jobscout24.ch, construction, real estate, health, social services and hospitality workers are in the most demand in Switzerland at the moment.

High demand for workers in Switzerland, despite recent layoffs

However, the new report comes as many companies look to reduce their presence in Switzerland. Over the last year, machine manufacturer Rieter has cut 900 Swiss workers, with 500 people at Idorisa (biotech) and 800 at Dormakaba (key manufacturing) also losing their jobs. 

Most famously, Swiss banks and investment firms UBS and Credit Suisse are planning to cut hundreds of jobs after their agreed merger. Other famous firms cutting jobs in Switzerland include the Red Cross in Geneva (several hundred) and Google in Zurich (300).

International companies in Switzerland hit with rising inflation

20 Minuten explained that the layoffs can be attributed to a multitude of factors, chief of which being rising costs for energy, transport, salaries and supplies from abroad. Rising interest rates, declining demand, hesitant investors, automation and efficiency improvements were also blamed. 

The conditions in Switzerland and abroad are also leading to some firms moving overseas. 20 Minuten noted that Dormakaba has shifted a number of jobs from Zurich to Sofia in Bulgaria, to take advantage of the lower salaries in the Black Sea state. However, the newspaper was quick to add that while some companies are choosing to cut back or move, many others are still struggling to find people to hire.