Leading Swiss clothing manufacturer Calida Holding on Wednesday announced it will close its plant in India and axe 250 workers and also slash up to 20 jobs at its plant in Sursee, northern Switzerland.

The firm will make the job cuts by the end of the year. It recently posted a 27.3 million euro ($23.8m) net loss for 2001, compared to a 6.9m euro ($6.1m) loss in the previous year.