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Signet Jewelers Looks to Cut Staff

It’s making buyout offers.

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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.

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Video: 3 Millennial Couples Reveal Their True Thoughts On Lab-Grown Diamonds

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Video: How to Turn Prospects Into Paying Jewelry Customers

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Gene the Jeweler

Video: Gene the Jeweler Explains How to Fire People

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.

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“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

Over the years, INSTORE has won 76 international journalism awards for its publication and website. Contact INSTORE's editors at editor@instoremag.com.

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Burglars Are Cutting Jewelry Stores’ Power Lines to Disable Alarms

It’s happened more than 30 times across the country.

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The Jewelers’ Security Alliance reports that there’s been a nationwide pattern of burglars cutting jewelry stores’ power lines in order to disable alarm systems.

On April 17, JSA issued a crime alert on the burglary of a Laguna Niguel, CA, jewelry store in which the power lines were cut. Burglars came through the roof, cut into a safe and took a large amount of merchandise.

Video: 3 Millennial Couples Reveal Their True Thoughts On Lab-Grown Diamonds
Headlines

Video: 3 Millennial Couples Reveal Their True Thoughts On Lab-Grown Diamonds

Video: How to Turn Prospects Into Paying Jewelry Customers
Jim Ackerman

Video: How to Turn Prospects Into Paying Jewelry Customers

Video: Gene the Jeweler Explains How to Fire People
Gene the Jeweler

Video: Gene the Jeweler Explains How to Fire People

JSA has now received reports of over 30 cases in which burglars have cut the power lines. It’s happened in Florida, Colorado, California, Indiana, Idaho, Illinois and Utah, as well as in Canada.

The burglars cut the power lines soon after a store has closed for the night, then wait nearby to see the response by the owner or police, according to JSA.

The burglars have not carried out safe burglaries at all of the stores.

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“After cutting the wires, the burglars watch and wait,” JSA stated. “If the burglars feel safe after having witnessed the owner or police response or lack of response to the cut wires, they will break into the store, often by cutting through the roof or sidewall.

“They will then attack the safe, usually cutting into it, and sometimes torching it.”

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Jewelry Chain Looks to Build $13M Headquarters

It will employ about 100 people.

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James Avery, a Texas-based manufacturer that operates 88 stores, is looking to open a second headquarters at a cost of $13 million.

The facility would be located in Cedar Park, TX, KXAN-TV and the Austin Business Journal report.

James Avery Craftsman Inc. is seeking more than $500,000 in economic incentives for the project.

As part of the agreement, the headquarters would need to have a payroll of about $4.9 million by 2025. It would also need to consist of at least 35,000 square feet.

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The Business Journal reports that the facility would have more than 100 employees.

Kerrville-based James Avery, known in part for its Christian-themed jewelry, is particularly popular in its home state of Texas, where it operates 80 stores.

Read more at KXAN-TV

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Video: 3 Millennial Couples Reveal Their True Thoughts On Lab-Grown Diamonds

MVI Marketing has released a new video.

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MVI Marketing has released a new video in which three millennial couples reveal what they think about lab-grown diamonds.

The couples interviewed by MV Eye are all actively shopping for engagement rings.

In the video, which is under three minutes long, they’re asked about topics such as their budget, their shopping preferences and their views on lab-grown diamonds.

Watch the video:


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