Swarovski Crystal announced September that it will cut a further 290 jobs at Wattens, in the Tyrol, by the end of 2008. Swarovski will, therefore, reduce its workforce to around 6,000, compared with 6,738 in 2007 & 6,291 at the end of August 2008. The company said cutbacks to the workforce were necessary due to the worldwide business climate, economic slowdown, high inflation & continuing weakness of the US dollar. Despite tough conditions, the company will retain its innovation strategies, it added. According to Markus Langes-Swarovski, a spokesman for the executive board of the crystal division, measures for efficiency improvement & further capacity adjustments are necessary by the end of the year. That makes job cuts inevitable, he said, adding that the company would try to keep lay-offs to a minimum. Swarovski will alsoimplement structural evaluation projects by the end of 2010.
