Restructuring events
European Restructuring Monitor (ERM)
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.
Swarovski, an Austrian crystal and jewellery manufacturer operating in the manufacturing and luxury goods sector, announced the planned reduction of up to 400 jobs at its headquarters in Wattens, Tyrol, affecting mainly production and related staff at the main site. The job cuts are scheduled to take place from early 2026 through to the end of 2026 and are attributed to a weakening business-to-business segment, combined with external pressures such as high raw material and energy costs, rising labour expenses, exchange rate volatility and international trade tariffs, while the consumer jewellery business remains comparatively strong.
The workforce reduction will be implemented through a mix of measures, including dismissals, voluntary departures and retirements, with the final number of compulsory redundancies depending on the uptake of voluntary exits; in parallel, the company plans a 10% reduction in working hours and a shift from a three-shift to a two-shift production model, eliminating night shifts.
A social plan has been negotiated with the works council, providing severance payments equivalent to a salary of two to seven months per affected employee and additional funding for a labour market foundation to support re-employment. Employee representatives acknowledged that the restructuring could not be prevented and focused on mitigating its impact, while the Tyrolean regional government and labour institutions expressed concern and announced support measures.
Swarovski is a globally active family-owned group with long-standing operations in Wattens, where employment has already been significantly reduced since 2020 Swarovski 2020 - AT.
Eurofound (2025), Swarovksi, Internal restructuring in Austria, factsheet number 203882, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/203882.