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Swarovski to Cut a Third of Jobs at its Austrian Headquarters

The logo of Swarovski is seen outside a store in Vienna, Austria, June 21, 2016. (Reuters)
The logo of Swarovski is seen outside a store in Vienna, Austria, June 21, 2016. (Reuters)
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Swarovski to Cut a Third of Jobs at its Austrian Headquarters

The logo of Swarovski is seen outside a store in Vienna, Austria, June 21, 2016. (Reuters)
The logo of Swarovski is seen outside a store in Vienna, Austria, June 21, 2016. (Reuters)

Jewelery group Swarovski plans to cut a third of the 4,600 jobs at its Austrian headquarters as part of a restructuring program in response to tough competition and coronavirus related losses, news agency APA said on Tuesday.

Around 1,000 jobs will be cut this autumn and another 600 by 2022, APA said.

The decision was “painful but unavoidable,” the agency quoted Swarovski Crystal’s Chairman Robert Buchbauer as saying.

Revenues are expected to drop around 35% to below 2 billion euros (1.80 billion pounds) this year, he said.

Under the restructuring program, the family-owned group plans to merge under one roof its various businesses, which include jewelery, home accessories and the Swarovski Kristallwelten experience attractions at its headquarters in Watten in the Tyrol province, APA said.

Swarovski did not immediately reply to a Reuters request for comment.

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Fashion

Saudi Fashion Commission, SAIP Launch Intellectual Property Protection Guide

The new initiative builds on the commission's role in empowering the fashion sector
The new initiative builds on the commission's role in empowering the fashion sector
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Saudi Fashion Commission, SAIP Launch Intellectual Property Protection Guide

The new initiative builds on the commission's role in empowering the fashion sector
The new initiative builds on the commission's role in empowering the fashion sector

The Fashion Commission launched the Intellectual Property and Designers' Rights Protection Guide for the fashion industry, in collaboration with the Saudi Authority for Intellectual Property (SAIP).

The initiative builds on the commission's role in empowering the fashion sector, supporting its community, and fostering a developmental environment that addresses all stages of the product value chain.

The guide aims to serve as a reference for designers to benefit from intellectual-property laws by protecting and registering their innovative designs, thereby enabling them to obtain legal protection.

It also seeks to promote a culture of creativity and encourage designers to develop new creations while safeguarding their rights against replication or intellectual theft.

The Fashion Commission offers the protection guide to cover four key areas within the fashion industry: patents, which include new inventions and technological advancements in fabric and garment production; industrial designs, which pertain to aesthetic elements and decorative patterns that give fashion items their unique appearance; copyright, which covers artistic and creative outputs such as illustrations, patterns, and designs; and trademarks, which include logos and symbols that distinguish a product in the marketplace.

The Fashion Commission said designers and brand owners can access the Intellectual Property and Designers' Rights Protection Guide through the commission's official website.

Moreover, SAIP receives public rights complaints via its website from rights holders or their representatives regarding violations of works protected under the Copyright Protection Law and the Trademarks Law.