The watch industry in Switzerland is going through difficult times. Global demand for Swiss watches is falling and the strong franc is putting pressure on manufacturers. The industry is sounding the alarm. + Get the most important news from Switzerland in your inbox In a joint press release issued on Tuesday, the Federation of the Swiss Watch Industry (FH) and the Confederation of Watch Industry Employers (CP) called on the authorities to support the export industry. Concrete measures are needed to strengthen the competitiveness of the watch industry and preserve the economic stability of the export industry. + Chinese slump hits luxury watch industry At present, suppliers and manufacturers of timepieces in the lower and medium price segments are suffering most from the market downturn and the strong franc, it said. Lay-offs have started The consequences for the industry are serious, the industry associations continued. Of the 700 companies with around 65,000 employees, many have ...
