Watches of Switzerland Group to shut showrooms and minimize jobs | EUROtoday

A luxurious watch retailer has confirmed it’s going to shut 16 showrooms throughout the nation and has put dozens of roles in danger.

The Watches of Switzerland Group – based mostly at Carlton Park in King Edward Avenue, Leicestershire – stated 79 individuals had been informed they had been susceptible to redundancy.

Where attainable, affected workers will probably be redeployed, with the corporate finally anticipating 40 individuals to go away the enterprise.

The firm, which employs 709 assist service workers members, stated its “priority [was] to support all affected colleagues”.

It comes after the enterprise, which has 155 showrooms throughout the UK, opened “one of the largest” Rolex boutiques in Europe in London earlier this month, a spokesperson stated.

In the final reported monetary 12 months, the group opened 22 showrooms, refurbished 15 and purchased 15 via jewellers Ernest Jones.

An announcement from the Watches of Switzerland Group stated: “We continually assess our operations to remain as efficient and productive as possible.

“Whilst we intend to proceed rising our showroom property organically and by acquisition, following a current assessment, we have now regrettably made the tough determination to shut 16 showrooms within the UK.

“We have also reviewed our support services to ensure we are operating in the most efficient and productive way to power our retail growth and are regrettably proposing that circa 40 roles will be at risk of redundancy.”

The agency has not but stated which showrooms will shut.