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.
Wholesale / Retail Retail trade Retail sale of other goods, except motor vehicles and motorcycles 47.77 - Retail sale of watches and jewellery
75 jobs Number of planned job losses
Announcement Date
15 January 2025
Employment effect (start)
15 January 2025
Foreseen end date
Description
As announced on 15 January 2025, the online platform for luxury watches Chrono24 is cutting 110 jobs globally, including 75 at the headquarters in Karlsruhe, Germany. This represents a quarter of the workforce of 300 in Karlsruhe. Affected employees will be offered "comprehensive severance packages". The goal of the layoffs is to make the company more efficient and streamline hierarchies. The company has been profitable for years. However, the market situation has become increasingly challenging. The luxury goods business has declined after the boom during the COVID-19 pandemic.
Chrono24 currently employs 460 people worldwide, and after the restructuring, it will have 350 employees.
16 January 2025: Badische Neuste Nachrichten (bnn.de)
Citation
Eurofound (2025), Chrono24, Internal restructuring in Germany, factsheet number 202234, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/202234.
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