⏱ 1 min read
Background
Zenith, founded in Le Locle in 1865, belongs to the luxury group LVMH. The brand has been struggling for several years and is making a strategic shift towards the high end.
The key points
Zenith's management announced to staff on 22 October 2026 that around a hundred jobs would be cut in Le Locle. The Neuchâtel site employs 196 people.
Around a hundred jobs are also affected internationally, in the distribution network. The repositioning means lower production volumes and therefore less need for watchmaking staff.
Key figures
- Employees in Le Locle: 196.
- Jobs cut in Le Locle: around a hundred.
- Jobs at risk in the international network: 101.
- Year Zenith was founded: 1865.
What it means for businesses
Zenith cites the strong franc, tariffs and geopolitics. The company also points to an oversized industrial and commercial division weighing on costs. It says it is looking for alternatives within the group and with companies in the region.
Who says what
According to Unia Neuchâtel, watchmaking had not seen such mass layoffs since the Covid period. Staff have mandated the union to defend their interests.
What's next
The consultation period between the social partners opened on the Monday following the announcement. Unia must submit its proposals by 12 November.
Further reading
Sources
- RTS – Watchmaker Zenith cuts around a hundred jobs in Le Locle
- L'Evénement syndical – Warning shot in watchmaking
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