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Swarovski to Eliminate 600 Jobs

The company has seen a ‘massive decline’ in revenue.

Published

4 years ago

June 26, 2020

INSTORE Staff

Swarovski will eliminate 600 jobs as part of a restructuring.

The Austria-based crystal maker is merging marketing and sales that were distributed across various units, according to media reports.

The company said 200 jobs will be cut in the Tyrol area where it has its headquarters.

The COVID-19 pandemic helped prompt the decision to reduce staff.

CEO Robert Buchbauer said the company was “hit hard by the crisis” and saw sales enter a “massive decline” in the first quarter of this year, Fashion Network reports.

In particular, the company cited lower demand for its products in the U.S. and Asia.

INSTORE Staff

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at editor@instoremag.com.

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