Headlines

Pandora to Lay Off 1,200 Employees

The cuts follow declining sales.

Published

6 years ago

May 8, 2019

James Ritchie

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.

Jimmy Degroot

Smith and DeGroot Release ‘A Vendor Perspective’ Podcast Episode

Jimmy Degroot

Video: Split Sales Require Effort

Jimmy Degroot

The Business of Jewelry Podcast Special Edition (Part 2)

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.

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.

Retiring? Let Wilkerson Do the Heavy Lifting

Retirement can be a great part of life. As Nanji Singadia puts it, “I want to retire and enjoy my life. I’m 78 now and I just want to take a break.” That said, Nanji decided that the best way to move ahead was to contact the experts at Wilkerson. He chose them because he knew that closing a store is a heavy lift. To maximize sales and move on to the next, best chapter of his life, he called Wilkerson—but not before asking his industry friends for their opinion. He found that Wilkerson was the company most recommended and says their professionalism, experience and the homework they did before the launch all helped to make his going out of business sale a success. “Wilkerson were working on the sale a month it took place,” he says. “They did a great job.”