// Swarovski will scrap up to 1600 jobs at its head office
// Revenues are expected to drop around 35% to £1.8 billion this year
Swarovski is set to cut a total of 1600 jobs at its headquarters as part of a major restructuring programme.
Around 4600 people are currently employed at the Wattens facility in Austria.
The jewellery retailer said at least 1000 jobs will be lost this autumn, while another 600 will be scrapped before 2022.
Revenues are expected to drop around 35 per cent to €2 billion (£1.8 billion) this year as Swarovski chairman Robert Buchbauer said the decision was “painful but unavoidable”.
The restructuring programme will see Swarovski merging of all its businesses under one roof, including jewellery, home accessories and the Swarovski Kristallwelten experience attractions.
The group has 34,500 employees worldwide, and manufactures jewels in Austria, India, Thailand, Vietnam, Serbia and the USA.
Separately, Swarovski appointed Giovanna Battaglia Engelbert as its first ever company-wide creative director in May.
Engelbert will oversee the full creative direction of the company and “reimagine the
product portfolio across all divisions”.
The first products designed by her will be showcased in the spring/summer 2021 collection.