The Swiss conglomerate continues to clean house as it deals with a downturn.
The conglomerate's third quarter sales grew 5%, with slight improvements across all areas.
The Michelangelo Foundation aims to preserve traditional artisanal crafts.
Employee unions rejected the Swiss watchmakers' plans to trim their workforces to cope with the downturn in business.
The luxury group abolishes the role of chief executive, promotes the next generation of leaders, while reporting grave half year results.
The luxury conglomerate's results for the first five months of the year continue the grim news.
Luxury watchmaking remains weak - not such a bad thing for watch buyers.