The Tyrolean crystal company Swarovski cuts about 50 employees at its headquarters in Wattens. The company announced this on Tuesday and spoke of a necessary “moderate adjustment of the workforce” that would be necessary due to “the current macroeconomic conditions worldwide and especially in Austria”.
According to its own information, Swarovski currently employs 2,900 people in Austria, the majority of whom work directly in Wattens. “It is about “securing the economic viability of the strategic location in Wattens” and long-term profitability,” the group said, justifying the measure.
“Further develop the location”
“Despite the difficult market climate and general conditions in Austria, our management remains determined to further develop the Wattens location sustainably and profitably,” said Jérôme Dandrieux, General Manager at Wattens and Global Human Resources Manager at Swarovski.
Offer of support for those affected
Regarding employees affected by the downsizing, he emphasized a “comprehensive package of measures, including financial support, further training at the Swarovski Labor Foundation, additional qualification offers and support in finding new jobs.”
The investments in the Wattens location will continue. The focus is on technology, innovation and sustainability, as evidenced by the recent investment in a new CO₂-neutral glass melting plant. The system will be put into use this spring.
Moreover, the group’s overall current situation was apparently assessed positively: “Thanks to the LUXignite strategy, we are still on the road to recovery.” It was recently announced that the group would be back in the black for the first time in 2024 and that it would ultimately be a profit.
Works council with harsh criticism of leadership
Selina Eder, director of Swarovski’s central works council, sharply criticized the company. She emphasized to ORF: “We currently have our doubts. We have been making these adjustments for 17 years. And adjustments only take place at the workforce and rarely at management level, which is unfortunately increasing. Unfortunately, we have currently lost confidence in this management team that will lead us forward again.”
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
