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 23.1 - Manufacture of glass and glass products
1,800 jobs Number of planned job losses
Announcement Date
22 June 2020
Employment effect (start)
30 September 2020
Foreseen end date
31 December 2022
Description
Crystal glass producer Swarovski has announced 200 job cuts at its headquarter in Wattens, Tyrol. The employees will be in short time work till the end of September 2020. Worldwide, a total number of 600 jobs will be cut. Swarovski has named the declining demand of luxury goods due to the COVID-19 crisis as reason for the job reductions. They expect a decline in turnover for 2020 and a slow recovery in the following years. The union PRO-GE has criticised the job cuts sharply, especially as the company currently makes use of short term work support.
Update 8/09/2020: Crystal glass producer Swarovski has finally settled on a total number of 1,600 job cuts at its headquarter in Wattens, Tyrol. 1,000 employees will be dismissed in autumn 2020, while 600 more jobs are to be cut over the period 2021-2022. After heavy discussions on the reduction plans, a convention of 75 family members, who are shareholders, has finally agreed on a restructuring plan. At the end of 2022, the number of employees in Wattens will be reduced to 3,000 - resulting in a total number of 1,800 job cuts compared to the beginning of 2020.
Eurofound (2020), Swarovski, Internal restructuring in Austria, factsheet number 101191, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/101191.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
