Donald Trump may be the last US president to receive an expensive Swiss watch for his inauguration — a time-honored tradition that is threatened by a slump in the luxury-time-piece industry.

Nearly every president since Harry Truman has been given a Swiss-made timepiece, a Vulcain Cricket, from the watchmaker. They’re valued between $6,700 and $11,000.

But job cuts have put the Vulcain’s future in jeopardy. The watchmaker has already slashed its staff from 12 to five.