On June 22, Swarovski announced a staff reduction of 600 people.
As soon as the threat of COVID-19 infection began to subside, and people around the world started to return to their usual lifestyles, the world faced the problem of a financial crisis and unemployment.
The COVID-19 pandemic has caused significant damage to many industries: some businesses have already gone bankrupt because they could not adapt to the new conditions. The crisis also affected such large companies as Swarovski. The famous jewelry maker announced it would reduce its staff. The reason for this decision was the drop in demand for products in Asia and the United States.
According to Swarovski, the international luxury goods market has been hit hard by the COVID-19 pandemic. That is why Swarovski decided to reorganize the company. At the moment this has led to a reduction in the number of employees by 600 people, 200 of whom worked at the headquarters in Tyrol. The representatives of Swarovski also noted that at this stage, the abolition of jobs does not end yet, and soon the company expects further reductions.
