Swarovski Restructures: 400 Roles Eliminated at Austrian Headquarters

Swarovski is cutting staff. Specifically, the Austrian group has announced the reduction of 400 jobs at its headquarters in Wattens (Austria), in the form of layoffs, voluntary departures and retirements. The restructuring will take place before the end of 2026.

This will reduce the number of employees at the site from approximately 2,480 to 2,100. The company has alleged a weakening of the B2B business at this location, according to local media, following a press conference. The layoffs will begin in January.

In addition to the job cuts, all workers have been offered a 10% reduction in their working day, and the three-shift operation will be reduced to two shifts. Thus, the night shift will be eliminated.

Swarovski’s workforce at its headquarters will be reduced from 2,480 to 2,100 people, between layoffs, voluntary departures and retirements

The company assures that the decrease in sales in the territory is due to the fact that its main clients are companies. In addition, it adds that there are not good prospects for the market in China or for the luxury sector in general. In this sense, he also attributes the cutback to the global macroeconomic situation. And finally, he points out that producing in Austria involves high costs in terms of labor, energy and raw materials.

In recent years, the company had already gradually reduced its workforce at its headquarters, with 1,200 of the 4,600 employees working there in 2020. According to the latest publications, the company does not rule out selling some of its properties at this location as well.

Swarovski closed its last fiscal year, 2024, with a 6% growth to €1.9 billion. The company, traditionally discreet in terms of its figures, celebrated a double-digit evolution of its ebitda, and a positive operating result for the first time in five years.

The company, founded in 1895 by the Swarovski family, specializes in the production and distribution of cut crystal, an activity that has evolved into jewelry. With figures up to March, the company has more than 2,300 stores in 140 countries worldwide.