Headlines Pandora to Lay Off 1,200 Employees The cuts follow declining sales. Published 3 years ago on May 8, 2019 By James Ritchie Share Tweet 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 Video: Fix the ‘Glitches’ in Your Jewelry Business Jimmy Degroot Video: Everyone in Your Jewelry Store Can Get Along. Here’s How. Jimmy Degroot Video: Discounting Your Jewelry Can Send the Wrong Message 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. Advertisement 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. Related Topics: Latest News TopPandora click to Comment(Comment) Up Next 5 Jewelry Distributors Hit With Penalties for Toxic Metals Don't Miss Jewelry Store Owner Admits to Tax Evasion Advertisement SPONSORED VIDEO Thinking of Liquidating? Think: Wilkerson When Peter Reines, owner of Reines Jewelers in Charlottesville, VA, decided it was time to turn over the “reins” of his 45-year-old business to Jessica and Kevin Rogers, he chose Wilkerson to run his liquidation sale. It was, he says, the best way to maximize the return on his decades-long investment in fine jewelry. Now, with new owners at the helm, Reines can relax knowing that the sale was a success, and his new life is financially secure. And he’s glad he partnered with Wilkerson for this once-in-a-lifetime opportunity. “There’s just no way one person or company could run a sale the way we did,” he says. You may like 90 Percent of Surveyed Jewelers Reported Growth in December. Here’s What They Sold Ben Bridge to Transfer 37 Pandora Stores Back to Company Pandora Tests New Store Concept in Italy and UK Promoted Headlines Thinking of Liquidating? Think: Wilkerson Wilkerson Consolidating Stores? Time to Call the Experts! Wilkerson It’s Going to Set Us Up Very Nicely for Retirement Wilkerson Advertisement Latest Trending Videos Press Releases1 day ago SJTA Announces 2022 Board of Directors Columns1 day ago Here’s Why You Should Consider Hiring a Business Coach Cover Stories1 day ago 23 Ways to Do More in Your Business by Doing Less Benchmarks3 days ago These Jewelry Retailers Grab Shoppers’ Interest with Inventive Displays Headlines3 days ago $8.7M in Fake Jewelry Seized in Cincinnati and Indianapolis Best of The Best1 week ago Louisiana Jeweler To Launch Diamonds into Space Jimmy Degroot1 week ago Video: Fix the ‘Glitches’ in Your Jewelry Business Jimmy Degroot1 month ago Video: Everyone in Your Jewelry Store Can Get Along. Here’s How. Sponsored Webinars2 months ago Podium Presents: SMS Marketing 101 for Jewelry Retailers Advertisement SubscribeBULLETINS INSTORE helps you become a better jeweler with the biggest daily news headlines and useful tips. (Mailed 5x per week.) Latest Comments Most Popular Benchmarks3 days ago These Jewelry Retailers Grab Shoppers’ Interest with Inventive Displays Headlines3 days ago $8.7M in Fake Jewelry Seized in Cincinnati and Indianapolis Best of The Best1 week ago Louisiana Jeweler To Launch Diamonds into Space Celebrity Jewelry5 days ago The ’60s Make a Comeback in Jewelry and Fashion Benchmarks3 days ago 11 Intriguing Examples of Jewelry Store Window Displays Hot Sellers5 days ago 90 Percent of Surveyed Jewelers Reported Growth in December. Here’s What They Sold Cover Stories1 day ago 23 Ways to Do More in Your Business by Doing Less Celebrity Jewelry3 days ago Judge the Jewels: Were Pharrell’s Diamond Tiffany & Co. Sunglasses Inspired by a Famous Antique?