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Swiss jewellery and watch brand De Grisogono will be cutting up to 41 jobs after sales of its high-end jewellery failed to meet expectations.
The brand said it had to reduce production capacity to reflect the “challenging conditions in some key markets” and is “scaling back ambitions” to become the world’s leading high-end jewellery and watch brand.
It added that it wanted to focus on more affordable fine jewellery pieces, which have made it a success in the past.
