Omar Roy, 72, was arrested in connection with the murder of jeweler Dionisio Carlos Valladares.
Signet Begins Layoffs After Falling Short of Buyout Target
The jewelry retailer is looking to cut costs as part of its “Path to Brilliance” turnaround plan.
Akron, Ohio—Signet Jewelers Ltd. will begin layoffs after not enough employees opted into its “voluntary transition program,” the company confirmed Wednesday.
The company declined to disclose the number of employees that who will be laid off, but said all departing employees, whether voluntary or involuntary, are expected to leave the company on April 26.
The buyout program was announced in February, giving employees the option to exit in exchange for a severance package and assistance in finding a new job, though not direct job placement.
Employees in store support centers who had been with Signet for two years or more, or those in a district manager position or above, were eligible. Retail store employees were not part of the buyout program.
Signet was looking to save an undisclosed amount of money through the voluntary buyouts, with the goal of avoiding layoffs, but acknowledged Wednesday that it fell short.
“We were hopeful that we could achieve our cost savings targets through the VTP, but we have let some employees know today that based on VTP participation, we are taking additional actions, including an involuntary reduction-in-force with transition and out-placement assistance,” Signet Vice President of Corporate Affairs David Bouffard said in a company statement shared with National Jeweler.
The retailer is letting go of employees as it looks to cut costs as part of its three-year turnaround plan called the “Path to Brilliance,” which also includes closing 150 more stores this fiscal year.
In its latest quarterly financials release, the company said the workforce reductions are part of estimated cost-cutting measures totaling $60-$70 million in the current fiscal year.
Signet employs nearly 3,400 people at its two headquarters: 2,608 in Akron and 789 in Dallas, the longtime headquarters of the Zale business.
The Latest

The New Orleans-based brand’s “Beyond Katrina” jewels honor the communities affected by the storm.

Lilian Raji explains why joining an affiliate network is essential for brands seeking placements in U.S. consumer publications.

As a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.

The organization has awarded a total of $42,000 through its scholarship programs this year.


The winner of the inaugural David Yurman Gem Awards Grant will be announced live at the 2026 Gem Awards gala.

As summer winds down, celebrate the sunny disposition of the month’s birthstones: peridot and spinel.

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

Moshe Haimoff, a social media personality and 47th Street retailer, was robbed of $559,000 worth of jewelry by men in construction outfits.

The insurance company’s previous president and CEO, Scott Murphy, has split his role and will continue as CEO.

The nearly six-month pause of operations at its Kagem emerald mine earlier this year impacted the miner’s first-half results.

The necklace uses spinel drops to immortalize the moment Aphrodite’s tears mixed with her lover Adonis’ blood after he was fatally wounded.

The diamond miner and marketer warned last week that it expected to be in the red after significantly cutting prices in Q2.

Jewelers of America’s 35th annual design contest recognized creativity, artistry, style, and excellence.

Tratner succeeds Andie Weinman, who will begin stepping back from the buying group’s day-to-day operations.

The president made the announcement via Truth Social Wednesday, adding that India also will face a penalty for its dealings with Russia.

The luxury titan’s star brand Gucci continued to struggle amid a "tough" environment.

Its opening marks the completion of the retailer’s new 11,000-square-foot store in the Texas capital.

Respondents shared concerns about tariffs and commentary on the “Big Beautiful Bill.”

“Making a Killing in Diamonds” tells the story of Mimi Rosen, the disappearance of a scientist, and the murder of lab-grown diamond CEO.

Senior Editor Lenore Fedow learned a lot when she took a behind-the-scenes factory tour with the jewelry brand earlier this year.

The first-time exhibitors, set to debut at the New York City show, share a devotion to craftsmanship, storytelling, and material integrity.

The online auction house’s September sale will feature rough Brazilian emeralds of various qualities.

She’ll lead an executive committee consisting of President-Elect Bryan Moeller, Mitchell Clark, Bill Farmer, and Larry Rickert.

Announced Sunday, the deal will set the tax on goods imported into the United States from the European Union at 15 percent.

A new edition of the Italian brand’s “Ipanema” collection has debuted with gemstones that evoke Brazil’s breathtaking views.

The retailer will refer its customers to WonderCare, founded by venture capitalist and watch collector Kevin O’Leary.