Swarovski invests €150M in Wattens while cutting 1,300 jobs in restructuring
Swarovski has announced a €150 million investment in its Wattens site over the next four years. The move comes alongside a restructuring plan that will reduce the workforce to around 2,100 employees.
The company reported a revenue increase to €1.9 billion for the 2024 fiscal year, despite ongoing challenges in its small business ideas sector.
The restructuring follows struggles in Swarovski’s corporate client division. Additional pressures include weak automotive demand, domestic economic difficulties, and unpredictable U.S. tariff policies.
In 2020, the company had already cut 1,200 jobs in Wattens, reducing its workforce from 4,600 to about 3,400. This latest round of changes will see fewer than 80 employees actively let go. Most reductions—85%—were handled through retirements and voluntary departures.
Affected staff will receive two to seven months’ salary, plus €11,000 each for job transition support. Notifications to those impacted will be issued on Tuesday.
The company’s leadership has faced internal disputes, particularly in 2025, when conflicts arose between family members over strategy and financing. Nadja Swarovski and other relatives clashed over control of the my business.
The investment in Wattens signals a long-term commitment despite recent job cuts. With revenue rising to €1.9 billion, Swarovski aims to stabilise operations while navigating global economic challenges. The reduced workforce will now total around 2,100 employees at the site.
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