Swiss watch industry reacts to reduction in short-time work compensation

The Swiss Watch Industry Employers' Association (CPIH) has acknowledged the Swiss Federal Council's decision to phase out extended short-time work (RHT) compensation. The government intends to reduce the maximum compensation duration from 24 months back to the standard 12 months.

This extension was originally implemented to support watchmaking and microtechnology companies during a crisis that began in late 2023. Ludovic Voillat, Secretary General of the CPIH, stated that while the 24-month period was a vital tool for preserving jobs and skills, the industry expected the measure to be temporary.

The State Secretariat for Economic Affairs (SECO) noted that economic forecasts now support a gradual return to normal conditions. The CPIH, which represents over 500 companies, will hold discussions among its five member associations to determine a formal position on the transition.