Majors

David Yurman Lays Off Nearly 100 Employees

MajorsJul 22, 2020

David Yurman Lays Off Nearly 100 Employees

The jewelry company attributed the job cuts to the toll the coronavirus pandemic has taken.

20200721_David_Yurman.jpg
A pair of 18-karat gold and diamond statement earrings ($14,000) David Yurman debuted at the 2019 Couture show. The jewelry company laid off 98 employees as it struggles amid the coronavirus pandemic.

New York—David Yurman laid off 98 employees at the corporate level in recent weeks following companywide furloughs earlier in the year.

The layoffs began June 30 as a result of “unforeseeable business circumstances prompted by COVID-19,” according to a filing with the New York Department of Labor.

The company did not respond to National Jeweler’s request for comment, but told WWD that “these challenging decisions were made in order to ensure a healthy business for the future.”

The layoffs affected mainly the marketing, product development, engineering and finance departments, said David Yurman.

The company began furloughing a majority of its corporate and retail staff in April, retaining only a small team to handle day-to-day operations.

Shortly after the furloughs, the Yurman Family Foundation committed to donating $1 million to U.S. charities aiding in the fight against COVID-19.

“Our hope is this will go in some way towards helping so many of our friends, neighbors, employees and customers who are going through this challenging time,” said the family in a statement on the website.

The company has faced a challenging time of its own as the U.S. market, its largest, continues to struggle amid the coronavirus pandemic with a recent surge of cases in the South and West.

While other jewelers can shift focus to reopened markets, WWD noted that David Yurman relies on the U.S. for 90 percent of its global sales.

The company opened a new Manhattan flagship on East 57th Street in December 2019, in the iconic Fifth Avenue shopping area alongside Burberry, Saint Laurent, the under-construction Tiffany & Co. flagship, and other luxury stores.

Lenore Fedowis the senior editor, news at National Jeweler, covering the retail beat and the business side of jewelry.

The Latest

Woman wearing Brilliant Earth jewelry
FinancialsMar 13, 2025
Brilliant Earth’s 2024 Sales Struggled Amid Engagement Recovery

CEO Beth Gerstein shared its most popular price points, what’s trending in non-bridal fine jewelry, and its holiday performance.

Chopard Insofu emerald collection
CollectionsMar 13, 2025
Chopard Unveils High Jewelry Collection Created From 6,225-Carat Emerald

The 15 pieces were crafted from the “Insofu” emerald, discovered in Zambia in 2010.

Jewelers of America’s new natural and lab-grown diamond brochure
Lab-GrownMar 13, 2025
JA Offering Some ‘Counter Intelligence’ on Diamonds

Jewelers of America is distributing a brochure for retailers to use when discussing the differences between natural and lab-grown diamonds.

Supplier Spotlight -Recorded-Webinar.png
Brought to you by
Watch: GIA Field Gemology at the One-Hundredth Expedition: A Look Back and to the Future

Supplier Spotlight Sponsored by GIA

A rough diamond and a polished diamond
SourcingMar 12, 2025
5 Factors That Will Impact the Diamond Industry in 2025

The industry is changing as it grapples with new realities around distribution, supply, and the need for consistent, effective marketing.

Weekly QuizMar 06, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
New Gem & Jewellery Export Promotion Council Chairman Kirit Bhansali
SourcingMar 12, 2025
Q&A: New GJEPC Chairman Kirit Bhansali

Bhansali discusses the potential impact of U.S. tariffs, demand for diamonds by market, and the “cautious confidence” in India right now.

Limelight Lab Grown Diamond store in India
Lab-GrownMar 12, 2025
Beyond Jewelry: Possibilities in the Lab-Grown Diamond Sector

As lab-grown diamond brands pop up across India, academics are researching how to grow demand outside of the jewelry industry.

Facets-of-Fire-Difference-You-Can-See.jpg
Brought to you by
Natural Diamonds Should Mean More

Natural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.

Diamonds Do Good honoree Govind Dholakia at medical camp
SourcingMar 12, 2025
Indian Leader, Retailer Among 2025 DDG Honorees

Govind Dholakia and Tanishq will be recognized for their contributions to the industry at the Diamonds Do Good Awards in Las Vegas.

Marla Aaron Liberty London Shop-in-Shop
IndependentsMar 12, 2025
Marla Aaron Migrates to London

The New York City-based brand has opened its first U.K. location with a permanent shop-in-shop at Liberty in London.

Medieval sapphire bishop ring
AuctionsMar 12, 2025
A Medieval Bishop’s Sapphire Ring Is Going Up for Sale

A metal detectorist discovered the ring that is believed to have belonged to a bishop in the late 12th to early 13th century.

JA New York sign
Events & AwardsMar 12, 2025
JA New York Announces Education, Live Demo Lineups

Organizers looked to new partnerships and interactive experiences to enhance the spring show, set for March 16 to 18.

Jewelers Vigilance Committee annual luncheon 2025 logo
Events & AwardsMar 12, 2025
Bogolo Joy Kenewendo to Speak at Annual JVC Luncheon

Kenewendo, Botswana’s minister of minerals and energy, will discuss the future of diamonds.

Jaythan Lawrence Gilder and body scan
CrimeMar 11, 2025
Man in Florida Swallows Allegedly Stolen Tiffany & Co. Jewelry

The suspect allegedly stole almost $800,000 worth of diamond jewelry from a store in Orlando and then swallowed it during a traffic stop.

Duvall O’Steen and Jen Cullen Williams
ColumnistsMar 11, 2025
Creative Connecting: How to Pose on the Red Carpet

Ahead of the Gem Awards on Friday, Jen Cullen Williams and Duvall O’Steen share pro tips for taking the best photos.

Marco Bicego 25 Years Campaign Isabeli Fontana
CollectionsMar 11, 2025
Marco Bicego Celebrates 25 Years With Collection, Campaign

Founded in 2000, Marco Bicego is commemorating its milestone anniversary with a “25 Best” collection and campaigns honoring its heritage.

Hill & Co The List
TechnologyMar 11, 2025
Hill & Co. Launches New B2B Buyer Database

Those attending the company’s upcoming Zoom workshop will receive early access to “The List,” its new resource for finding buyers.

Amy-Elise Signeavsky GIA
Events & AwardsMar 11, 2025
JSA to Honor GIA Employee at Annual Luncheon

The organization will present an award to Amy-Elise Signeavsky, law enforcement and diamond recovery manager at GIA.

Picture of Terry Chandler, president and CEO of the Diamond Council of America
MajorsMar 10, 2025
Terry Chandler to Retire After 24 Years as Head of DCA

Chandler started his jewelry career at Michelson Jewelers, joining the Diamond Council of America as president and CEO in 2001.

MaeVona King of the Mountains Torc
CollectionsMar 10, 2025
MaeVona Co-Founder Debuts 3D-Printed ‘Tùsaire’ Collection

Scottish American designer Maeve Gillies collaborated with Platinum Guild International on jewelry created by direct metal 3D printing.

The Jewelry Symposium 2025 Scholarship Winners
Events & AwardsMar 10, 2025
The Jewelry Symposium Announces 2025 Scholarship Winners

Ahead of its trade show in May, TJS awarded free registration and accommodations to five up-and-coming jewelry industry professionals.

Gem Awards New York City
Events & AwardsMar 10, 2025
These Designers, Journalists, and Retailers Are Up for a Gem Award

The 2025 Gem Awards are set to take place Friday at Cipriani 42nd Street in New York City.

Jane Fonda, America Ferrera, Mariska Hargitay, Laura Harrier, Mattia Furlani, Gianvito Martino, Sabina Belli in Pomellato International Women’s Day campaign
MajorsMar 07, 2025
Jane Fonda, Mariska Hargitay Star in Pomellato’s IWD Campaign

The annual star-studded campaign for International Women’s Day encourages collective action against domestic violence.

Yeprem Golden Strada Statement Necklace
CollectionsMar 07, 2025
Piece of the Week: Yeprem’s ‘Golden Strada’ Necklace

The statement piece is seen in Yeprem’s new “You Play the Game” campaign, created for International Women’s Day.

Kyle Slosson
MajorsMar 07, 2025
Borsheims Names New Senior Security and Facilities Manager

Longtime employee Kyle Slosson has been promoted to the role.

Dan and Hope Wixon with dog
IndependentsMar 06, 2025
Wixon Jewelers to Close After 37 Years

First-generation jewelers Dan and Hope Wixon are retiring and will close their Minneapolis-area jewelry store in May.

3.1 Phillip Lim x Guzema Snake necklaces and bracelets
CollectionsMar 06, 2025
Guzema, 3.1 Phillip Lim Collab on New ‘Snake’ Designs

The limited-edition collection, a nod to the Year of the Snake, is Ukrainian brand Guzema’s first partnership with a U.S. brand.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy