Swiss multinational SGS to move HQ from Geneva to Zug
SGS confirmed that it plans to transfer its headquarters to Zug, but the decision must be approved at the end of March by its board of directors, according to Swiss public television, RTS.
Keystone / Urs Flueeler
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Listening: Swiss multinational SGS to move HQ from Geneva to Zug
The Swiss multinational SGS, the world’s leading testing, inspection and certification company, plans to move its headquarters from Geneva, where it has been based since 1915, to canton Zug in central Switzerland.
SGS confirmed that it plans to transfer its headquarters, but the decision must be approved at the end of March by its board of directors, according to Swiss public television, RTS.
The reasons for the move are not only tax-related, according to RTS. Its Geneva building is only half full and Zug is also closer to Zurich Airport, the company says.
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The multinational company employs nearly 100,000 people worldwide. In Geneva, it has about 150 staff, whose jobs are not threatened, SGS says. The company insists that it wants to maintain a “presence” in Geneva. Employees will have more information on Tuesday.
This departure has been discussed for several months with the Geneva Department of Economy and Employment. The minister in charge, Delphine Bachmann, told RTS that she regrets SGS’s decision to leave. Various initiatives were attempted to try to persuade the company to stay.
“The discussions we had did not carry enough weight in the balance of their decisions. As a state, we can do a lot of things, but in the end it is a decision that belongs to them. Like any private company, it is free to make its own choices. Now, we must focus on the future and the attractiveness of the canton, which we must continue to work towards,” said Bachmann.
It is unclear what impact this will have on Geneva’s finances. SGS’s turnover amounted to CHF6.6 billion in 2023.
Geneva is not the only region concerned by the move. Other SGS offices in Switzerland, apart from laboratories, will also be centralised in Zug.
Translated from French by DeepL/sb
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