Business · Companies · 10 hrs ago
Zenith plans to cut about half its jobs in Le Locle
Zenith plans to cut about 100 jobs at its Le Locle watchmaking site in Switzerland, about half its local workforce.
Around 100 more jobs are at risk in its international sales network, bringing the total at risk to about 200 worldwide.
The company, owned by French luxury group LVMH, has opened a three-week consultation process on the proposed mass layoffs.
Zenith wants to focus on the highest-priced luxury watches as part of a strategic shift it aims to complete by 2029.
The company says demand no longer matches its production, and that a stronger Swiss franc, US tariffs and weaker sales in the Middle East and Asia are adding pressure.
The job cuts reflect a lasting change in the watch market, not just a temporary downturn, according to the company’s chief.
Zenith has not given further details while the consultation is under way, and the Unia union plans to meet employees on Monday.
Zenith plans to cut about half the jobs at its Le Locle watchmaking site as part of a strategic restructuring.
About 100 jobs at the Swiss site and another 101 in its international sales network are at risk, according to cash.ch.
The LVMH-owned brand plans to focus on the very high-end luxury watch segment, with the restructuring due to be completed in 2029.
Zenith has opened a three-week consultation process for collective redundancies and said it would not provide further details until it ends.
Chief executive Benoît de Clerck cited the strong Swiss franc, US tariffs and falling demand in key markets including the Middle East and Asia.
- Who
- Zenith, the watch brand owned by French luxury group LVMH.
- What
- It plans to cut about half the jobs at its Le Locle site and restructure its international distribution network.
- When
- The plans were reported on 22 October 2026. Employees were informed on Thursday morning.
- Where
- Le Locle, Switzerland, and Zenith’s international sales network.
- Why
- Zenith plans to focus on the very high-end luxury segment. Its chief executive cited the strong franc, US tariffs and falling demand in key markets.
This story does not have two clearly opposing sides.
Zenith informed employees of its restructuring plans.
Zenith confirmed reports and said it had opened a three-week consultation process for collective redundancies.
Unia plans to meet with employees, according to Arcinfo.
Zenith plans to complete the strategic repositioning.
- Le Locle workforce
- 196 jobs, according to cash.ch
- At-risk jobs in Le Locle
- About 100
- International sales network
- 101 jobs at risk, according to cash.ch
- Consultation period
- Three weeks
- Restructuring target
- Focus on the very high-end luxury segment, with completion planned for 2029
4 sources
What people are saying
We are all going through a very difficult period in what we call the mid-range segment.
The strong franc, US tariffs, the decline in key markets such as the Middle East and Asia: this is not a temporary dip, it is a market that has changed permanently.