SurveysJan 09, 2026
U.S. Holiday Retail Sales Up 4%, Visa, Mastercard SayThe credit card companies’ surveys examined where consumers shopped, what they bought, and what they valued this holiday season.
MajorsJun 30, 2020
Swarovski Latest to Announce Job Cuts, Slashing 600 Positions
The crystal company is undergoing a restructuring as the COVID-19 pandemic sinks sales in the United States and Asia.
Swarovski introduced lab-grown diamonds in 16 colors at Paris Haute Couture Fashion Week in January. The company is cutting 600 jobs as part of its restructuring plan. (©Swarovski)
Wattens, Austria—Swarovski plans to cut 600 jobs, or about 2 percent of its workforce, as part of a restructuring plan.
"The international luxury market has been hit hard by the crisis," the company said in a statement to WWD.
It noted “a massive decline in sales” in its first quarter as demand took a nosedive in Asia and the United States.
New CEO Robert Buchbauer is looking to streamline the company, making changes to its organizational structure, including the merging of marketing and sales activities.
One-third of the cuts will take place at the company’s headquarters in Austria’s Tyrol region, with 200 jobs eliminated as part of the merger.
Swarovski said all business processes and activities are “currently being reviewed to ensure that they are in line with both the strategic realignment and economic reality.”
"The international luxury market has been hit hard by the crisis," the company said in a statement to WWD.
It noted “a massive decline in sales” in its first quarter as demand took a nosedive in Asia and the United States.
New CEO Robert Buchbauer is looking to streamline the company, making changes to its organizational structure, including the merging of marketing and sales activities.
One-third of the cuts will take place at the company’s headquarters in Austria’s Tyrol region, with 200 jobs eliminated as part of the merger.
Swarovski said all business processes and activities are “currently being reviewed to ensure that they are in line with both the strategic realignment and economic reality.”
RELATED CONTENT: Macy’s to Lay Off 3,900 Employees Amid Restructuring
Buchbauer, the great-great-grandson of company founder Daniel Swarovski, was recently appointed to the CEO position amid an executive shake-up at the company.
The changes included the appointment of fashion veteran Giovanna Battaglia Engelbert as Swarovski’s first creative director, the departure of Markus Langes-Swarovski from the executive board, and a reportedly diminished role for Nadja Swarovski.
Swarovski employs about 34,500 people worldwide and has manufacturing facilities in Austria, India, Thailand, Vietnam, Serbia and the U.S.
The changes included the appointment of fashion veteran Giovanna Battaglia Engelbert as Swarovski’s first creative director, the departure of Markus Langes-Swarovski from the executive board, and a reportedly diminished role for Nadja Swarovski.
Swarovski employs about 34,500 people worldwide and has manufacturing facilities in Austria, India, Thailand, Vietnam, Serbia and the U.S.
More on Majors
The Latest
AuctionsJan 09, 2026
Christie’s Names New Global Managing Director for LuxuryKimberly Miller has been promoted to the role.
CollectionsJan 09, 2026
Piece of the Week: Lionheart’s ‘Serenity’ Opal CharmThe “Serenity” charm set with 13 opals is a modern amulet offering protection, guidance, and intention, the brand said.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
CollectionsJan 08, 2026
Pandora’s New ‘Bridgerton’ Jewels Celebrate Bees, Bows, and Blooms“Bridgerton” actresses Hannah Dodd and Claudia Jessie star in the brand’s “Rules to Love By” campaign.
Weekly QuizJan 08, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsJan 08, 2026
Ana Khouri To Receive 2026 Gem Award for High Jewelry ExcellenceFounded by jeweler and sculptor Ana Khouri, the brand is “expanding the boundaries of what high jewelry can be.”
TrendsJan 08, 2026
Stuller’s Color of the Year Is a Stark Contrast to Pantone’s WhiteThe jewelry manufacturer and supplier is going with a fiery shade it says symbolizes power and transformation.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
CollectionsJan 08, 2026
Gracie Abrams To Front New Chanel Jewelry CampaignThe singer-songwriter will make her debut as the French luxury brand’s new ambassador in a campaign for its “Coco Crush” jewelry line.
ColumnistsJan 07, 2026
Peter Smith: Physical Retail—The Beginning or the End?As the shopping mall model evolves and online retail grows, Smith shares his predictions for the future of physical stores.
Events & AwardsJan 07, 2026
Melee Adds 13 New Designers to NYC ShowThe trade show is slated for Jan. 31-Feb. 2 at The Lighthouse in New York City's Chelsea neighborhood.
TrendsJan 07, 2026
Amanda’s Style File: Go for GarnetJanuary’s birthstone comes in a rainbow of colors, from the traditional red to orange, purple, and green.
SourcingJan 07, 2026
Diamonds Do Good Releases 2025 Impact ReportThe annual report highlights how it supported communities in areas where natural diamonds are mined, crafted, and sold.
CrimeJan 06, 2026
2 Jewelers Arrested After TraxNYC Diamond District BrawlFootage of a fight breaking out in the NYC Diamond District was viewed millions of times on Instagram and Facebook.
MajorsJan 06, 2026
Rio Grande Says These Are the Top Personalization Tools for 2026The supplier has a curated list of must-have tools for jewelers doing in-house custom work this year.
MajorsJan 06, 2026
Zales Tests Out A New LookThe Signet Jewelers-owned store, which turned 100 last year, calls its new concept stores “The Edit.”
MajorsJan 06, 2026
LeachGarner Appoints New Director of SalesLinda Coutu is rejoining the precious metals provider as its director of sales.
SourcingJan 06, 2026
AGA Announces 2026 BoardThe governing board welcomed two new members, Claire Scragg and Susan Eisen.
TrendsJan 05, 2026
Amanda’s Style File: New Year’s EditionSparkle with festive diamond jewelry as we celebrate the beginning of 2026.
IndependentsJan 05, 2026
Jeweler Ben Nighthorse Campbell Dies at 92The master jeweler, Olympian, former senator, and Korean War veteran founded the brand Nighthorse Jewelry.
TrendsJan 05, 2026
Pinterest 2026 Trend Report: Brooches, Bold Gold, Cool BlueIn its annual report, Pinterest noted an increase in searches for brooches, heirloom jewelry, and ‘80s luxury.
MajorsJan 02, 2026
Marc Metrick Out as CEO of Saks Global Executive Chairman Richard Baker will take over the role as rumors swirl that a bankruptcy filing is imminent for the troubled retailer.
Events & AwardsJan 02, 2026
Jan Mohr, Couture’s ‘North Star,’ Dies at 71Mohr had just retired in June after more than two decades as Couture’s retailer liaison.
SourcingJan 02, 2026
IDCA Elects New President, Board of DirectorsShekhar Shah of Real Gems Inc. will serve as president of the Indian Diamond & Colorstone Association in 2026.
CollectionsJan 02, 2026
Lalaounis’ 2026 Good Luck Charm Speaks to ResilienceThis year’s good luck charm features the mythical horse Pegasus, and is our first Piece of the Week of the new year.
EditorsDec 31, 2025
The Top 5 Stories of 2025Articles about crime, engagement rings, and a necklace worn in the World Series generated the most interest among readers.
MajorsDec 30, 2025
Becka Johnson Kibby to Lead Edge Retail AcademyAs part of the leadership transition, Sherry Smith will take on the role of vice president of coaching strategy and development.
