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Empresas y finanzas

Tag Heuer cuts management, production jobs: LVMH watch head


    PARIS (Reuters) - Tag Heuer, the biggest watch brand in French luxury group LVMH , has cut some management and production jobs in Switzerland in response to the industry slowdown, the head of LVMH watches said on Monday.

    Jean-Claude Biver said Tag Heuer had cut 46 managerial and production positions, and placed 49 people on temporary unemployment from Sept. 1 until the end of the year.

    Biver said the cuts were the main consequence of having decided "to produce only one chronometer movement as opposed to two, and focus on our core business, namely watches priced between 1,000 and 4,000 euros ($1,270-$5,080)".

    LVMH (MC.PA)also owns the Hublot and Zenith watch brands. Its Louis Vuitton brand also sells Swiss-made watches.

    (Reporting by Astrid Wendlandt; Editing by James Regan)