The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Rubber And Plastic Products And Other Non-Metallic Mineral Products Manufacture Of Other Non-Metallic Mineral Products 23 - Manufacture of other non-metallic mineral products
200 jobs Number of planned job losses
Announcement Date
19 September 2014
Employment effect (start)
20 September 2014
Foreseen end date
31 December 2014
Description
The Tyrol-based glassware and jewellery maker Swarovski announced plans to cut 200 jobs by the end of this year at its headquarters in Wattens. The company mentioned a difficult market situation as the main reason for these job cuts which will mainly affect the company's production, mainly temporary agency workers but also permanent staff.
The current restructuring efforts are the latest of a series of job cuts during the past years reducing staff from 6,700 employees in 2007 to currently 5,000. The companies work foundation (Arbeitsstiftung) will retrain affected employees to support them in finding a new job. Further steps will be taken in close cooperation with the local works council.
Update 20-10-2015: Swarovski announced to cut another 200 positions in Wattens, Tyrol. This should partly be achieved by natural fluctuation. For affected employees restructuring measures will be implemented in a socially responsible way, using the companies work foundation. For this year the company announced a double-digit increase in turnover and emphasised that it wants to retain the location in Wattens in which it will invest €90 million in the next three years. Swarovski has shed around 2,000 jobs during the past 8 years. To date the company continues to employ around 4,800 staff at its headquarters in Wattens.
Sources
20 September 2014: Tiroler Tageszeitung
19 September 2014: orf.at
19 September 2014: Der Standard
19 September 2014: Die Presse
Citation
Eurofound (2014), Swarovski, Internal restructuring in Austria, factsheet number 77601, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77601.
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