Chrono24 Layoffs

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In December 2022, Chrono24, a major online luxury watch marketplace, announced layoffs affecting up to 80 employees at its subsidiary "Zeitauktion" in Chemnitz-Rabenstein, Germany. The company later clarified that 42 employees would actually be let go. This decision followed Chrono24's acquisition of the pre-owned watch dealer Zeitauktion three years prior, an expansion move intended to create synergies and establish a large European watch workshop. However, the integration failed to deliver the expected benefits, leading to the job cuts as part of a strategic pullback. The layoffs were communicated abruptly just before Christmas, causing significant uncertainty among the workforce. Chrono24 stated it would attempt to retain or reassign as many employees as possible, while the future of the Chemnitz location remains unclear.

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