Swiss luxury watchmaker IWC will eliminate 18 of approximately 800 positions at its Schaffhausen manufacturing facility as part of an organizational restructuring initiative.
All affected employees have reached individual agreements with the company and will receive tailored support, an IWC spokesperson told AWP on Friday. The move follows reports from Inside Paradeplatz regarding planned layoffs.
IWC stated the adjustment is designed to align with the company’s ongoing development and long-term strategic plans. The company emphasized its continued commitment to its Schaffhausen production site, noting ongoing investments in the facility.
IWC is a subsidiary of Swiss luxury goods group Richemont, which owns several high-end watch brands.
