TrustedWatch - All about watches



Luxury watch manufacturers Ebel and Zenith dismiss employees

The economic crisis has an ever increasing impact on the watch industry. On 27 January 2008, the watch manufacturers Ebel and Zenith from western Switzerland have announced the dismissal of a total of approximately 50 employees. Zenith and Ebel´s reduction of staff is likely to be only the beginning of a whole series of dismissals in the watch industry.

In response to the inquiry by the news agency SDA, Benedikt Schlegel, director of the MGI Luxury Group in Biel and responsible for Ebel in La Chaux-de-Fonds, communicated that they were going to dismiss around 25 employees. He added that by working short hours and reorganizing, the company had been able to go somewhat easier on staff reduction. Before, it had been intended to dismiss at least 50 employees. And also watch manufacturer Zenith in Le Locle has to dismiss 24 employees, given the economic situation. The watch manufacturer Zenith, which belongs to the LVMH luxury goods group, currently employs about 270 employees.