Comments by "" (@larsstougaard7097) on "TheDubaiExpat"
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@ThePoushal yeah Swatch is the hero here , between 1970 and 1983, Swiss watch companies decreased from 1,600 to 600 and employment fell from 90,000 to only 28,000 jobs. Smaller workshops and family-run businesses primarily had to file for bankruptcy by the dozens. The recovery of the Swiss watch industry was shouldered in particular by two men: Ernst Thomke and Nicolas G. Hayek. In 1978, Thomke was hired by ASUAG (Allgemeine Schweizerische Uhrenindustrie AG), the second largest watch group after SSIH (Société Suisse pour l'Industrie Horlogère), to restructure the production of movements. Thomke decided to simplify the production process and brought all its suppliers together to form a new company, ETA SA, which is still known today for its raw movements. He reduced both production costs and the number of employees and began to speed up the conversion to quartz movements – and with great success, which soon became clear.
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