Zenith to cut half of Le Locle workforce amid luxury demand slump

Zenith, a Swiss luxury watchmaker, announced plans to eliminate approximately 100 of 196 jobs at its Le Locle site in Neuchâtel, citing ongoing weakness in luxury demand. The move reflects sustained pressure on Swiss watch exports, which have declined for several consecutive months. This signals continued softness in high-end consumer spending, a marginal negative for Swiss growth and the franc.

AI disclosure: Model-written summary of the source, not a verified fact. Check the sources. How Mosaic works