Headlines Signet Jewelers Looks to Cut Staff It’s making buyout offers. Published 2 years ago on February 24, 2019 By 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. Jimmy Degroot Video: Sharpen Your Bridal Jewelry Presentations Jimmy Degroot Video: Maximize on the Opportunities That 2020 Brought the Jewelry Industry Jimmy Degroot Video: Sales Management Master Class Taught by Jewelry Professionals Begins Feb. 16 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 Business Related Topics: Latest News TopSignet click to Comment(Comment) Up Next These Were the Most Dazzling Jewels at the 2019 Oscars Don't Miss Americans Don’t Spend Anywhere Near 2 Months’ Salary on Engagement Rings, Survey Finds INSTORE Staff Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at [email protected]. Continue Reading Advertisement SPONSORED VIDEO Wilkerson Testimonials Retirement Made Easy with Wilkerson The store was a landmark in Topeka, Kansas, but after 80 years in business, it was time for Briman’s Leading Jewelers to close up shop. Third generation jeweler and owner Rob Briman says the decision wasn’t easy, but the sale that followed was — all thanks to Wilkerson. Briman had decided a year prior to the summer 2020 sale that he wanted to retire. With a pandemic in full force, he had plenty of questions and concerns. “We had no real way to know if we were going to be successful or have a failure on our hands,” says Briman. “We didn’t know what to expect.” But with Wilkerson in charge, the experience was “fantastic” and now there’s plenty of time for relaxing and enjoying a more secure retirement. “I would recommend Wilkerson to any retailer considering a going-out-of-business sale,” says Briman. “They’ll help you reach your financial goal. 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