It Is Hard To Continue The Downturn: The Biggest Scourge Is Layoffs.

Recently, the group said that after the restructuring of the executives' hierarchy, there will be no CEO post. The major shareholder Johann Rupert will be the executive chairman, and the leaders of various brands and departments will report directly to the board of directors, thereby strengthening the group's ability to deal with market changes.

The decline in performance is the initiator of the group's layoffs. Due to the global economic weakness, especially the shrinking of the watch and jewellery market in China and the United States, and the impact of terrorist attacks on tourism consumption in Europe, the main business of the group has been hit hard by watches and jewellery.

At the end of November, the group announced that it planned to start Vacheron Constantin and the count's two major brands and slash 200-250 jobs.

In fact, as early as May this year, in order to save its declining performance, the group launched a huge reduction of 300 positions in the three watches brands of Cartire, Earl and Vacheron Constantin.

According to the latest financial results released by the group, the group's profit margin was 540 million euros in the first 6 months of September 30th, down 51% from a year earlier, and its sales volume was 5 billion 90 million euros, a decrease of 12.6%.

Among them, Cartire's high-end watch sales in mainland China dropped by about 60%, which triggered random turmoil at the top of the group.

Reporters were informed that, due to dissatisfaction with the massive layoffs plan, 150 employees of the peak group recently launched a protest near Vacheron Constantin and the two major brand headquarters of the count.

In November 14th, the famous brands, including Earl jewelry, Wan Guobiao, Vacheron Constantin, Cartire and other luxury brands, said they had laid off about 250 jobs in Switzerland.

Earl and Vacheron Constantin will be most affected by the layoffs.

According to the latest Reuters news, the trade unions and the summit group have reached a final agreement, the number of jobs will be substantially reduced than the original plan, but the specific figures have not been disclosed.

In the first half of this year, the group carried out a large-scale layoff.

The peak group reduced the size of the original planned layoffs of 300 to 100 people. The largest number of layoffs was Cartire, which cut 70 jobs. The remaining 30 positions were reduced in Earl and Vacheron Constantin. In addition, some jobs were reduced through early retirement, voluntary turnover and internal redeployment.

Related information shows that in 2016, the peak group will reduce more than 500 jobs, accounting for about 5.9% of the total number of 8500 employees in Switzerland.

It is reported that in addition to the bottom layoffs to reduce expenditure, the top of the summit is also changing.

It is reported that the chief financial officer and CEO of the group will retire in 2017.

Recently, the group announced that the chief executive of MontBlanc will be pferred to the head of group business in April 1, 2017.

In addition, executives continued to quit because of declining performance in.

Last year, Cartire CEO, international retail director and executives jumped to other luxury companies, triggering a series of turnover of Cartire executives.

According to the November peak group's earnings report, as of the first 6 months of September 30th, the group's profit margin was 540 million euros, down 51% compared to the same period last year, and its sales also plummeted to 5 billion 90 million euros, a decrease of 12.6%.

Among them, Vacheron Constantin, IWC, pan Na Hai and Earl count and other brands luxury watches sold 17% in the first half of the year, while the sales of watch products of group jewelry brands fell by 13%.

In September,

In the first half of this year, group profit fell 45%, of which Cartire performed badly.

In fact, since 2014, Cartire's performance has slowed down; since 2015, Cartire's declining performance has begun to drag on the development of the group.

In early 2015, the three quarter of the 2014 financial year announced by the group announced that its sales growth in the three quarter was slow by the performance of Cartire's wrist watch Department of the group's core business, which was the worst performance in the past six years.

By the end of 2015, Cartire's sales of high-end watches in mainland China had dropped by about 60% compared with its peak performance in 2012.

According to data from the Institute of wealth research, the sales volume of the group reached 10 billion 410 million euros in 2015, a growth rate of 4%, up 5 percentage points from 2014.

In 2015, the peak value reached the highest value of 2 billion 670 million euros.

However, sales in Hong Kong and Macao were sluggish, and watches and watches declined sharply, with sales of only 4 billion 100 million euros in 2015.

It is noteworthy that the profit growth rate of the peak group has been on the decline since 2011, from 80% to 10% in 2015.

In order to promote the development of China's market, the group has done quite a lot in the mainland this year.

In July, Cartire released the new generation star Lu Han's advertising film, and announced that Lu Han was a close friend of his brand.

In December, Jaeger Le Coulter, a brand of the watchmaker's watch brand, released a cooperative advertisement with the net red Papi sauce.

However, this did not seem to have a positive impact on the group. The cooperation with Papi sauce has caused widespread criticism of Jaeger Le Coulter's decision.

Previously,

The partner is Andy Lau, while Jaeger Le Coulter's best friend is Zhao Wei.

According to the insiders, the cooperation star of the group is different from the past. It can be said that Lu Han and Papi sauce are not consistent with the brand positioning of the two brands.

The intention of the brand to be close to Chinese young consumers is obvious, but its product positioning and pricing are all related to Lu Han.

The young group led by it is not consistent.

Zhou Ting, President of the Institute of wealth and quality, believes that the group is currently in the process of self revolution. She suggests that the group should strengthen the actual management and control of its brand, strengthen its unified management of the region, especially the market and channels, implement the overall retail channel as an electricity supplier, strengthen the online service capability, and cooperate with the third party platform with high quality customers, promote the media to intermediation, break the tradition of market communication through public relations companies, and directly face the precise marketing of the C side.

At the same time, Zhou Ting said that the group should establish a global service system.

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