By  on March 2, 2009

LONDON — Compagnie Financière Richemont plans to lay off up to 70 people at the high-end Swiss watch manufacturer Manufacture Roger Dubuis SA, which it acquired in August.

A Richemont spokesman said Friday the layoffs were not “recession-driven,” but rather the result of a strategy to downsize the workforce. “When we purchased it last August, Roger Dubuis was an oversize company, one that had grown very quickly. We’re simply scaling back,” he said.

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