Diamonds

Save E-mail Print Most Popular RSS Reprints

De Beers planning staff cuts

January 15, 2009

Similar Stories | Topics

London--De Beers has begun an operational review at its headquarters in London that will mean a reduction in staff, a De Beers spokesperson confirmed to National Jeweler on Thursday.

De Beers spokeswoman Lynette Gould said it is unknown at this point what percentage of the workforce in the United Kingdom will be affected or what departments the cuts will impact.

"We really just don't know yet," she said.

The cuts will be made following a 90-day review period, which began on Dec. 19.

According to Gould, "De Beers will endeavor to minimize job losses wherever possible through innovative solutions like production holidays, fewer shifts, part-time and flexible working, etc."

In addition, Gould said De Beers is considering staff reductions across all operations, including those outside the United Kingdom.

The cuts, like those being made at so many companies across the globe, are in response to the worldwide economic crisis, which has resulted in a decreased demand for diamonds.

Prior to announcing the job cuts, De Beers said it would be scaling back its mining operations and reducing its sights in response to decreased demand from its sightholders.

At a diamond conference held in November in Dubai, United Arab Emirates, Varda Shine, the managing director of the Diamond Trading Co., the arm of De Beers that handles the distribution of rough diamonds, forecasted diamond production would decline for 12-18 months.

In December, Shine said in a separate speech broadcasted over the Internet that the company plans to use 2009 to perform mine maintenance at some of its facilities.

"By doing all of this maintenance work, we'll have less to sell next year," she said.

De Beers' first sight of 2009 is scheduled for Jan. 19.
Save E-mail Print Most Popular RSS Reprints
Post a Comment
* Required field
* Author:
* Comment:
 

Diamonds

Industry calling for swift action on Zimbabwe

Jewelers of America is calling on the Kimberley Process to fully and quickly implement a work plan to address the serious concerns surrounding Zimbabwe's non-compliance with the Kimberley Process Certification Scheme, the system designed to keep conflict diamonds out of the international trade, and the reported human rights abuses in the Marange diamond fields. Read More

Sotheby's reports record-breaking sales in Geneva
Diamond symposium focuses on 'new normal'
More Diamonds

More Like This

De Beers taking 'serious look' at diamonds as investment
May 19, 2009 | National Jeweler Network
De Beers' production down 90 percent in 1Q
May 01, 2009 | National Jeweler Network
De Beers cites market improvement
April 21, 2009 | National Jeweler Network
De Beers notes improvement in diamond production
April 16, 2009 | National Jeweler Network
De Beers axes 25 percent of U.K. staff
April 07, 2009 | National Jeweler Network
TOPICS
Business | Jobs and Labor | Layoffs and Downsizing

advertisement

Video

Small multi video player located on right rail of NJN site

advertisement

Retailer Toolbar

America's Best Jewelers
Join the ONLY Social Network for Jewelry Retailers. Get access to expert content, peer best practices, and more.
Start networking today.
Newsletters
Newsletters
Topic-specific newsletters that deliver the latest news on jewelry, diamonds, wholesale operations and high-volume buying directly to your in-box.
Reader Connect
ReaderConnect
Supplier information presented with every article, bringing you related, actionable content on every topic.
Jewelry Yellow Pages
Yellow Pages
A comprehensive listing of associations, organizations, suppliers and services for the jewelry industry.
Classifieds
Classifieds
A comprehensive listing of job postings, product offerings and other materials for sale for the jewelry industry.
NJN Customer Connect
CustomerConnect
The most sophisticated suite of marketing services available for jewelry retailers, from Internet tools to data marketing.

advertisement