December 19, 2018 / 9:28 AM / 2 months ago

Semiconductor woes force Switzerland's VAT to extend work cuts

ZURICH, Dec 19 (Reuters) - Weak demand from semiconductor customers forced Swiss vacuum valve maker VAT Group to keep 400 production employees on shorter working hours as it seeks to manage a prolonged market slump without shedding trained staff.

VAT shares fell 5.9 percent after Wednesday’s announcement, extending a decline this year to about 38 percent.

Reporting by John Miller, editing by Louise Heavens

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