Connect with us

Headlines

Signet to Close Manufacturing Plant, Lay Off 122

The jobs will be cut by May 24.

mm

Published

on

Signet Jewelers Ltd. plans to close a manufacturing plant in the Dallas-Fort Worth area.

The closure will mean the loss of 122 jobs, the Dallas Business Journal reports.

“We have evaluated consolidation in key areas of our business, seeking to understand production capacity, cost and efficiency across our operations and distribution,” David Bouffard, Signet’s vice president for corporate affairs, told the publication.

The north Texas employees will be laid off by May 24. Operations will be transferred to existing locations in Akron, OH, according to the Dallas Business Journal.

However, Signet continues to maintain operations in north Texas, where it has more than 700 employees.

In February, media reports said Signet was making buyout offers to 2,600 employees in Fairlawn, OH, and 800 in Dallas as part of a cost-cutting effort.

Advertisement

Employees of the company’s stores, which operate under the Kay, Zales, Jared and Piercing Pagoda brands, were reportedly not eligible for the program.

Bouffard said at the time that the headcount reductions were designed “to fund the critical investments we need in our transformation plan,” according to Crain’s Cleveland Business.

If not enough employees signed up for the “voluntary transition program,” layoffs would be necessary, company officials said.

The company also said it was deferring merit pay increases for Store Support Center employees in Fairlawn and Dallas, Crain’s reported.

Read more at the Dallas Business Journal

Advertisement

Advertisement

SPONSORED VIDEO

When the Kids Have Their Own Careers, Wilkerson Can Help You to Retire

Alex and Gladys Rysman are the third generation to run Romm Jewelers in Brockton, Mass. And after many decades of service to the industry and their community, it was time to close the store and take advantage of some downtime. With three grown children who each had their own careers outside of the industry, they decided to call Wilkerson. Then, the Rysmans did what every jeweler should do: They called other retailers and asked about their own Wilkerson experience. “They all told us what a great experience it was and that’s what made us go with Wilkerson.” says Gladys Rysman. The results? Alex Rysman says he was impressed. “We exceeded whatever I expected to do by a large margin.”

Promoted Headlines

Advertisement

Advertisement

Advertisement

Subscribe


BULLETINS

INSTORE helps you become a better jeweler
with the biggest daily news headlines and useful tips.
(Mailed 5x per week.)

Facebook

Latest Comments

Most Popular