Breitling Cuts Jobs as Swiss Franc and Luxury Slump Hit Results

Breitling AG is laying off dozens of employees as the Swiss watchmaker, whose models include the pilot-focused Navitimer, grapples with softening luxury demand and higher costs.

The business, owned by private equity firms Partners Group and CVC Capital Partners, has cut more than 50 positions across its headquarters and subsidiaries globally this year, according to people familiar with the matter, who asked not to be identified discussing staffing matters. The layoffs, including in HR, marketing and sustainability, are part of a push to cut costs as Chief Executive Officer Georges Kern looks to revive the business.