Finance
Swatch workers in Turkey set to strike in pay row
Published by Global Banking & Finance Review®
Posted on November 7, 2025
2 min readLast updated: January 21, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on November 7, 2025
2 min readLast updated: January 21, 2026
Swatch Group workers in Turkey are set to strike over a pay dispute, involving 150 employees from Swatch and Omega stores. The union demands better pay amidst high inflation.
By John Revill
ZURICH (Reuters) -Workers at 16 of Swatch Group's directly operated stores in Turkey are set to strike on Monday in a dispute over pay and workers' rights.
About 150 workers from the company's Swatch brand stores in Istanbul, Ankara and Antalya, as well as two Omega stores in Istanbul, will take part in the first industrial action against the Swiss watchmaker in Turkey, their union said.
The strike, which will also affect the country office in Istanbul, has been called after talks between local union Koop-Is and Swatch management broke down.
The Turkish workers had sought a better pay deal in light of high inflation in Turkey, where prices rose by 33% in the year to October.
SWATCH SAYS DEMANDS ARE 'UNREALISTICALLY HIGH'
Workers were disappointed with pay rises of 25% offered to shop workers, and 5-15% for office staff, the union said, and had sought more.
Swatch Group said: "The union's demands are unfortunately unrealistically high and totally exaggerated."
Swatch does not break down its sales by country, but Turkey was the 18th biggest export market for Swiss watches overall this year, larger than Canada and India, according to industry figures.
UNI Global Union, a federation of global service sector unions based in the Swiss town of Nyon and which has Koop-Is as a member, has written to Swatch CEO Nick Hayek and Chair Nayla Hayek to resolve the dispute.
The union also wants the establishment of disciplinary boards to prevent the summary dismissal of staff, as well as equal access to bonuses and social benefits.
"Our union has made every effort to achieve a fair agreement that protects the rights and welfare of all Swatch Group Türkiye employees," said Eyup Alemdar, president of Koop-Is.
"But the company's proposals were unfair, discriminatory and far below workers’ expectations. We are left with no choice but to strike."
(Reporting by John Revill; Editing by Emelia Sithole-Matarise)
Inflation is the rate at which the general level of prices for goods and services rises, eroding purchasing power. It is typically measured by the Consumer Price Index (CPI).
A labor union is an organized group of workers who come together to make decisions about the terms of their work, including wages, benefits, and working conditions.
Consumer protection refers to laws and regulations designed to ensure the rights of consumers, promoting fair trade, competition, and accurate information in the marketplace.
Explore more articles in the Finance category
