LEM announces a number of initiatives impacting its Swiss operations, with an evolution of the HQ role and the loss of 21 jobs in Geneva. The company is also investing in a new global headquarters in Geneva and a new production facility in Malaysia to meet growing customer demand. Changing role of headquarters: Over the past few years there has been a change in roles for the Geneva HQ based teams, who are now focused on setting strategy and standards, leading innovation and coordinating all global sites. The teams in countries such as China, Bulgaria, Japan and France have been empowered with skills and decision making in R&D, operations, sales and quality control. part of this process, the company is making redundant 21 employees in Geneva, mostly in activities such as production support, supply chain and support functions. Some of these roles will now be performed in other countries. The affected employees are being accompanied with appropriate care and support. This will result in a one-off charge of CHF 1.5 million to the company's results for the current year 2019/20. New global headquarters situated in Meyrin, Geneva: Based since 1983 in Plan-les-Ouates, Geneva, the global headquarters will be relocated to a new campus "The Hive" in Meyrin, Geneva, with an expected investment of around CHF 10 million. The new custom-built 7,000 sqm building will offer a modern work environment, better suited for collaboration, with the majority of the space dedicated to R&D and innovation. The campus is already home to other corporations such as Hewlett Packard, with excellent local amenities and easy access to car, train and airport networks. The first construction activities are scheduled for February 2020, and completion is expected in Third Quarter 2021. This new Geneva site will be home to about 250 employees, out of a total of around 1,500 worldwide. The company has selected a site in Penang, Malaysia, for a new production facility of 5-10,000 sqm to meet growing demand from both industry and automobile clients worldwide, with an expected investment of between CHF 5 million to CHF 10 million. The facility is expected to open in fiscal year 2021/2022, employing about 50 people in the first year, and then growing to around 250 at full capacity after 5 years. This facility complements the company's existing major production sites in China, Bulgaria and Switzerland.