EMCC European Monitoring Centre on Change

Swarovski

Company/Organisation:
Swarovski

Geographic Location

Country: Austria
Region: Innsbruck; Tirol; Westösterreich
Location of affected unit(s): Wattens

Company

Sector: Manufacturing
Manufacture of rubber and plastics products, and other non-metallic mineral products
23.1 - Manufacture of glass and glass products
Number Employed: 4800

Employment Effects

Announcement Date: 22-06-2020
Planned Job Reductions min: 1800
Planned Job Reductions max: 1800
Type of Restructuring: Internal restructuring
Employment Effect Start: 30-09-2020
Foreseen End Date: 31-12-2022
Direct Dismissals: 1800

Additional Information

Crystal glass producer Swarovski has announced 200 job cuts at its headquarter in Wattens, Tyrol. The employees will be in short time work till the end of September 2020. Worldwide, a total number of 600 jobs will be cut. Swarovski has named the declining demand of luxury goods due to the COVID-19 crisis as reason for the job reductions. They expect a decline in turnover for 2020 and a slow recovery in the following years. The union PRO-GE has criticised the job cuts sharply, especially as the company currently makes use of short term work support.

Update 8/09/2020: Crystal glass producer Swarovski has finally settled on a total number of 1,600 job cuts at its headquarter in Wattens, Tyrol. 1,000 employees will be dismissed in autumn 2020, while 600 more jobs are to be cut over the period 2021-2022. After heavy discussions on the reduction plans, a convention of 75 family members, who are shareholders, has finally agreed on a restructuring plan. At the end of 2022, the number of employees in Wattens will be reduced to 3,000 - resulting in a total number of 1,800 job cuts compared to the beginning of 2020.

 

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