Breitling is laying off more than 50 employees globally as the Swiss watchmaker faces softening luxury demand, rising costs, and currency headwinds. Roles were cut across HR, marketing, and sustainability at headquarters and subsidiaries. The company reported adjusted EBITDA of 162 million Swiss francs ($208 million) for the 12 months ending March 31, a 21% YoY slump, while net sales fell 11% to 769 million Swiss francs ($988 million). A Swiss franc up over 10% against the dollar, US tariffs, and Middle East conflict have all weighed on performance. S&P Global downgraded Breitling’s credit to B- in July 2025, citing softer demand and the costs of acquiring Universal Genève and Gallet.

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