HeadlinesSignet Jewelers Looks to Cut Staff It’s making buyout offers. Published 1 year agoon February 24, 2019By INSTORE Staff Share Tweet Signet Jewelers is making buyout offers to 2,600 employees in Fairlawn, OH, and 800 in Dallas as part of a cost-cutting effort, Crain’s Cleveland Business reports.Employees of the company’s stores, which operate under the Kay, Zales, Jared and Piercing Pagoda brands, are not eligible for the program. HeadlinesPepsi Launches Engagement Ring Made with Diamond, Platinum and Crystal Pepsi (Video) Jimmy DegrootVideo: How to Make Huge Changes in Your Business HeadlinesVideo: Chicago Estate Jeweler Edward Kahn, Holocaust Survivor, Dies at 103 The headcount reductions are designed “to fund the critical investments we need in our transformation plan,” David Bouffard, vice president of corporate affairs, was quoted saying.If not enough employees sign up for the “voluntary transition program,” layoffs may be necessary, company officials said.The company is also deferring merit pay increases for Store Support Center employees in Fairlawn and Dallas, Crain’s reports.Signet CEO Virginia Drosos said in a memo, “We have critical efforts going on in real estate to reduce rents, merchandise to reduce cost of goods, indirect spending savings, and many more. Advertisement“But we also need to make some hard decisions to get Signet where we need to be.”The Akron Beacon Journal reports that the buyouts “come as Signet, which had an under-performing 2018 holiday sales season, is working to transform its business.”Read more at Crain’s Cleveland BusinessRelated Topics:Latest News TopSignet click to Comment(Comment) INSTORE Staff Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at email@example.com. Advertisement SPONSORED VIDEOWilkerson TestimonialsTo Generate Funds for a Jeweler’s Move and Remodel, Wilkerson More Than DeliveredEven successful jewelers need a little extra cash to fund expansion plans—especially when there’s inventory on hand that’s ripe for liquidation. For Beaumont, Texas-based jeweler Michael Price, co-owner of Mathews Jewelers, it was the perfect time to call Wilkerson. Price talked to other jewelers as well as vendors for advice during the selection process and decided to go with Wilkerson. And he wasn’t disappointed. When it comes to paying for the move and expansion, Price says the road ahead is clear. “When we close on the next two stores, there’s no worries about finances.”You may like Bharat Diamond Week Announces Show Dates Stuller Announces 2020 Bench Jeweler Workshop Pepsi Launches Engagement Ring Made with Diamond, Platinum and Crystal Pepsi (Video)Promoted Headlines To Generate Funds for a Jeweler’s Move and Remodel, Wilkerson More Than DeliveredWilkerson The Jewelry Retailer’s Ultimate Marketing Guide: Part 5/5RapNet True Romance – Jewelry Straight From the HeartAdvertisementLatestTrendingVideos Editor's Note14 hours agoConsidering a Big Risk? Make Sure It’s Personally Rewarding Brainstorms14 hours agoWhy a Mood Board Can Help You Connect with Your Customer True Tales14 hours agoOnly Daddy’s Little Girl Could Get Away With This Headlines6 days agoPepsi Launches Engagement Ring Made with Diamond, Platinum and Crystal Pepsi (Video) Best of The Best5 days agoWhy a Washington, DC, Jeweler Honored a 50-Year-Old Gift Certificate Headlines1 week agoVideo: Chicago Estate Jeweler Edward Kahn, Holocaust Survivor, Dies at 103 Jimmy Degroot7 days agoVideo: How to Make Huge Changes in Your Business Headlines1 week agoVideo: Chicago Estate Jeweler Edward Kahn, Holocaust Survivor, Dies at 103 Headlines2 weeks agoVideo: Jeweler Wins Fight for $500,000 Snow Promotion Claim Advertisement AdvertisementSubscribeBULLETINSINSTORE helps you become a better jeweler with the biggest daily news headlines and useful tips. (Mailed 5x per week.) Latest Comments Most Popular Headlines6 days agoPepsi Launches Engagement Ring Made with Diamond, Platinum and Crystal Pepsi (Video) Best of The Best5 days agoWhy a Washington, DC, Jeweler Honored a 50-Year-Old Gift Certificate Headlines1 week agoVideo: Chicago Estate Jeweler Edward Kahn, Holocaust Survivor, Dies at 103 Columns1 week agoFancy Pink Diamonds Have Soared 116% in Value in the Past 10 Years Photo Gallery7 days ago27 Savage Memes That Perfectly Capture the Manager-Employee Relationship Brain Squad5 days agoINSTORE Readers Report Successful Valentine’s Selling Period Jewelry Pro Gear6 days agoA Bench Book, Concrete Jewelry Holders and More Jewelry Pro Gear for February The Jeweler Cartoons6 days agoCartoon: Some People Wear Their Rings for Way. Too. Long.