Zenith Plans Job Cuts and Upmarket Shift
LVMH-owned watchmaker Zenith has launched a consultation process that could lead to significant job cuts. The Swiss brand aims to reposition itself toward high-end luxury watches amid weak consumer demand.
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LVMH Moët Hennessy Louis Vuitton watchmaker Zenith launched a consultation process on Thursday afternoon that could cut up to 200 jobs. The move comes as Swiss watch brands navigate weak demand from inflation-hit consumers and rising smartwatch competition. The restructuring affects half the workforce in Switzerland and international sales operations as the brand shifts upmarket.
