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
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