International News
Swarovski to cut 400 jobs at Austria HQ
Swarovski is to cut around 400 jobs at its headquarters in Austria and to reduce pay and working hours there for the remaining 2,100 staff.The family-run company, founded in 1895, blamed weaker sales to other companies rather than direct sales to individual consumers.
Layoffs will start in January 2026, the company said. It will also reduce staff numbers through voluntary departures, and retirements. In addition, Swarovski, best known for its crystal products, will reduce pay and hours for HQ staff by 10 per cent and eliminate the night shift.
Swarovski has axed over 5,000 jobs since 2007, reflecting ongoing efforts to slim down the workforce amid market pressures.The company, which has 2,300 outlets globally, returned to profit in 2024 after five years, and reported full-year revenue of EUR 1.9bn (USD 2.0bn).
International News
Massive 11,000-Carat Ruby Uncovered In Myanmar
A massive 11,000-carat rough ruby has been recovered in the famed gem-rich region of Mogok, Myanmar, according to recent state media reports.
Weighing in at 2.2 kg (4 lbs 14 oz), the newly discovered stone is roughly half the size of the legendary 21,450-carat rough gem found in the same region back in 1996. However, experts and state officials report that this new find boasts vastly superior color, luster, and transparency.
Mogok rubies, sourced from the “Valley of Rubies” in Myanmar (Burma), are legendary for their unrivaled vivid color and supreme clarity. They are famous worldwide for their “pigeon blood” red hue, which is caused by trace elements and microscopic silk particles that scatter light and give the gem a glowing, velvety softness.
Key Details of the Discovery:
- Physical Properties: The giant gem exhibits a striking purplish-red color with yellowish undertones, excellent vitreous luster, and moderate transparency. It remains entirely in its natural, untreated state.
- Geopolitical Context: Myanmar supplies roughly 90% of the world’s rubies. However, the nation has been embroiled in a devastating civil war since a 2021 military coup—a conflict that has claimed approximately 90,000 lives and displaced over 3.5 million people.
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