GENEVA: Richemont, the world’s second-biggest luxury goods group, is planning to cut up to 350 jobs in Switzerland this year amid a ‘difficult’ watch market, a Swiss newspaper reported on Saturday. Richemont, second only to France’s LVMH in the luxury world, is ‘studying an adjustment of the production capacities of some watch manufacturers’, Le Temps daily reported, quoting an internal document it had obtained. The plan, confirmed to the paper by a Richemont spokeswoman, could entail cutting up to 350 jobs in Switzerland, it reported. The Geneva-based company, which owns top global brands such as Cartier, Piaget, Jaeger LeCoultre and IWC, could not be immediately reached for comment.
Richemont job cuts
Published: 07:45 am Feb 21, 2016