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Kering : Ulysse Nardin and Girard-Perregaux will cut 100 jobs by the end of September

Kering : Ulysse Nardin and Girard-Perregaux will cut 100 jobs by the end of September

The two watch brands of La Chaux-de-Fonds and Le Locle have announced that they will be separating a quarter of their staff because of the economic crisis caused by Covid-19.

 

This is “very, very worrying” news for the authorities of the watchmaking metropolis.

 

The Covid-19 crisis has not finished leaving its mark on a large majority of brands…

 

Finally, Girard-Perregaux and Ulysse Nardin, watchmaking companies based in La Chaux-de-Fonds and united under the aegis of the Sowind Group, intend to part ways with around a hundred employees by the end of September.

 

The group, owned by French luxury goods specialist Kering, employs some 390 people.

 

The reason for this is the abrupt halt in sales during the confinement.

 

Not to mention the timid recovery in watchmaking, which motivated the decision to resize production capacity after a period of short-time working.

 

The coronavirus epidemic and its economic repercussions, which are likely to last several years, have hit the watch industry as a whole and require us to change our organisation,” explains Patrick Pruniaux, general manager of the two brands.

 

The durability of the brands is thus guaranteed and we are moving forward,” he assures.

 

On the other hand, no details of the redundancies are known to date.

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All we know is that the staff gathered at yesterday’s information session will be consulted according to the conventional provisions in force, remarks made by a company spokesperson quoted by Arcinfo.

 

Finally, a possible redundancy plan should be known by the end of September.

 

 

Read also > SWISS WATCH INDUSTRY FACING WORST EVER CRISIS, ACCORDING TO CEO OF HUBLOT

 

Featured photo: © Ulysse Nardin

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