Switzerland based Ruag may axe 2000 employees

The Swiss based defence group Ruag have warned that if the referendum backs the popular initiative to ban national export of defence materiel, 2000 jobs will be lost.

The Swiss defence group have said almost one-third of its total workforce, up to 2000 people may lose their jobs if the countries electorate backs the popular thought that the national export of defence materiel should be banned.

Under Swiss law a referendum can be triggered if campaigners can gather over 100,000 signatures for a law or a company’s policy. The vote for the idea named “For a Ban on War Material Exports” will be held on 29 November and could result in the law to ban Switzerland from exporting war material go through.

The petition “For a Ban on War Material Exports” gathered 109,000 signatures and was put forward in September 2007 and was aimed at outlawing the export of defence material from Switzerland. At the time of the petition’s submission, it had the support of Switzerland’s Social Democratic Party and Green Party.