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Radical reorganization at Swarovski – Vorarlberger Nachrichten

Wattens A far-reaching realignment is pending at the Tyrolean crystal company Swarovski. “It is very painful for everyone, but we have to take the steps that we should have taken years ago,” said the new CEO of Swarovski, Robert Buchbauer, to the financial news agency “Bloomberg”. He wants to downsize the company and is considering going public. They will focus on higher quality products instead of trying to offer everything for everyone. In addition, the number of 3,000 shops is to be reduced.

The plans encounter resistance in the Swarovski family. The family is at risk of losing control should the new boss push through his potential IPO plans. Buchbauer is himself a member of the dynasty.

Swarovski wants to cut 1,000 of the 4,600 jobs in Wattens. In the medium term it should only be 3,000 employees.

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