Swarovski is cutting 400 jobs at its Wattens, Austria, headquarters, according to press reports.
Staff restructuring at the famed crystal maker will begin in January and continue through the end of next year, said a story in fashion business newspaper Modaes.
In addition to the job cuts, all workers at Swarovski headquarters have been offered a 10% reduction in their working day, Modaes reported.
Wattens general manager Jerome Dandrieux told a Vienna newspaper that while the company is showing “robust figures” in its jewelry business generally, “we have no good prospects in China and in the luxury industry.”
A company spokesperson tells JCK that Swarovski’s LUXignite strategy has had “well above market results.
“In order to maintain this momentum, further action needs to be taken to enhance productivity in light of a difficult macroeconomic and geopolitical context. As a result, the company is streamlining its global organization, affecting approximately 3% of the total workforce, mainly in Switzerland, Austria, and Liechtenstein,” the spokesperson says.
“Swarovski is committed to handling this process with humanity, respect, and transparency, fully aligned with its corporate values and existing social plan frameworks.”
Top: Swarovski’s New York City flagship (photo courtesy of Swarovski)
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