Zenith to cut approximately 200 jobs in strategic shift

Zenith, the luxury watchmaker owned by LVMH, has initiated consultation procedures for mass layoffs as part of a strategic realignment toward the ultra-luxury segment. The restructuring aims to reposition the brand within 'haute horlogerie' to address declining demand and structural inefficiencies.

Approximately 100 positions—roughly half of the workforce—are at risk at the company’s manufacturing site in Le Locle, Switzerland. An additional 101 jobs are expected to be cut across the brand’s international distribution network and boutiques.

CEO Benoit de Clerck cited a permanently changed market landscape as a primary driver for the decision. He noted that the brand’s current intermediate segment is facing significant pressure from a strong Swiss franc, US tariffs, and declining demand in key markets such as Asia and the Middle East. Internal sources suggest the company has faced losses for several years despite the success of specific collections.