Climeworks cuts jobs amid economic headwinds and market uncertainty. (Photo: Climeworks)
Swiss direct air capture (DAC) pioneer Climeworks recently announced a major round of layoffs, planning to cut more than 20% of its global workforce.
Company executives attributed the move to macroeconomic uncertainty and shifting policy landscapes. However, some industry observers point to deeper issues: an underdeveloped carbon removal market and overreliance on a limited number of buyers.
DAC technology still in pilot phase
On May 21, Climeworks announced it would cut up to 106 positions worldwide, with 78 based in Switzerland.
The press release did not specify which departments would be affected, instead emphasizing the company's continued commitment to enhancing core technologies, diversifying its product offerings, and strengthening its leadership in the carbon removal market.
