Movado laid off about 100 employees today, many in their corporate HQ in Paramus, NJ.
They did it suddenly, without warning, and employees affected were told to pack their things and leave immediately.
They did this right before their big annual Baselworld show in Switzerland. Hundreds of thousands of dollars are spent on airfare, hotels and entertaining at this show.
Many of the employees let go are long time employees, over 50 years old, with many years at the company.