Calida Holding, the Swiss clothing producer, said it will axe about 180 out of 500 jobs at the Aubade lingerie business in a cost-cutting attempt.

Calida wants to boost efficiency and create a strong economic base to develop France-based Aubade, it said, and plans to move production to Tunisia are part of this strategy.

The company will hold discussions with worker representatives.

Costs from the restructuring will affect this year's profits, Calida said. It still expects sales growth of 20% for 2006 and an improved operating profit.

Calida, which bought Aubade in 2005, posted sales of CHF176.7m (US$141.15m) in the same year.