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Pandora to Lay Off 1,200 Employees

The cuts follow declining sales.

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Pandora plans to slash 1,200 jobs from its Thailand operations in the wake of flagging sales.

The layoffs are in addition to 700 job cuts in February, Reuters reports.

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About 14,000 of Pandora’s 32,000 worldwide employees are based in Thailand.

Even as it cuts jobs, the company plans to increase its marketing investment, particularly in the UK, Italy and China, according to Reuters.

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CEO Alexander Lacik was quoted saying: “The brand as well as the company has reached a point of maturity and it is not without some serious challenges.”

In the company’s most recent fiscal quarter, like-for-like sales dropped 10 percent compared to the year-ago quarter, Reuters reports. Pandora said fewer shoppers visited its stores in key markets, including Great Britain and Australia.

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