The jewellery company is downsizing staff at its headquarters in Wattens, Austria, due to a decline in sales volumes. 200 jobs will be cut, informed Swarovski on Wednesday.

According to local media, the staff has already been notified, and a special employee-focussed foundation will be established in conjunction with the Tyrolean government to assist with trainings and the search for new jobs.

Last year Swarovski laid off other 200 employees at its head office. Of its 25,000 employees worldwide, 5,000 work at the jewellery company’s head plant in Wattens. The group expects its turnover to increase by over 10% in the current fiscal year, rising from €3 billion in 2014.