Majors

Pandora Trims Workforce Again Amid Reorganization

MajorsMar 06, 2020

Pandora Trims Workforce Again Amid Reorganization

The jeweler has a multi-step strategy to get back on track, including increased investments in tech and improvements to its retail presence.

20200306_Pandora_header.jpg
A 14-karat rose-gold-plated link cable chain necklace ($225) featuring an “O Pendant” with a pink Murano glass leaf pendant ($65) and a pink Murano glass leaf ring ($90) from Pandora. The jewelry brand is undergoing a reorganization as part of its turnaround plan.

Copenhagen, Denmark—Pandora announced this week that it is cutting 180 jobs as part of a multipronged strategic reorganization, the next step in its turnaround plan.

The Danish jeweler employs a total of 28,000 people worldwide, meaning the job cuts will affect less than 1 percent of its workforce.

Here’s a rundown of the changes and what they mean for the jewelry brand.

Pandora is closing some regional offices.

The company will close its three regional offices in EMEA (Europe, Middle East and Africa), the Americas and the Asia-Pacific region.

“The reorganization will reduce organizational complexity, enable Pandora to execute with more speed and agility, and add critical capabilities required to support growth”, CEO Alexander Lacik said in a press release announcing the changes.

Lacik said the change would allow feedback from customers to translate into new concept creations at a quicker pace.

As a result of the reorganization, David Allen, president of Pandora EMEA, will step down from his position but stay with the company.

Kenneth Madsen, current president of Pandora Asia Pacific, will leave the company.

Pandora operates in 100 markets, which will now be grouped into 10 clusters with each cluster led by a general manager who will be based in the largest market in each cluster.

Sid Keswani, president of Pandora Americas, will become president of the North America cluster, which will include the United States. (Latin America, which was part of Pandora Americas, will be part of a different cluster.)

Keswani is based in Baltimore, where Pandora has its North American headquarters.

Pandora wants to bolster its retail skills.

As part of the new system, the general managers will report to the chief commercial officer, a newly created position.

The external candidate will be announced shortly, said Pandora, and is set to join the company’s executive team in the second quarter of this year.

The CCO will report to Lacik and be tasked with improving Pandora’s global retail skills including global merchandising, store development, planning and execution.

A new department called “network and franchise management” will also be created to support its global franchise partners.

Pandora is separating old business from newer ventures.

Pandora is setting up two global business units. One will oversee core products, like its charms, and the other will oversee newer products.

The new setup is expected to “offer more impactful products and marketing concepts and a more consistent consumer experience across markets,” Pandora said in the release.

The

units will be responsible for concept development, design, execution and marketing plans.

These units will report to Carla Liuni, the newly appointed chief marketing officer and former Bulgari executive who starts at Pandora on March 20.

The company also recently appointed Erik Schmidt as its chief human resources officer.

Pandora is going all-in on tech and data analytics.

Pandora is establishing a global business services center to make its transactional processes more scalable and efficient.

In January, the jeweler announced the creation of a new Copenhagen-based digital group, consisting of software engineers, designers and analysts, established to boost its digital presence and data use.

The group is set to be up and running next month.

Pandora said it expects to hire around 80 new employees in 2020, including product managers, digital engineers, operations managers, strategy managers and data analysts.

“How we derive the benefits from technology and data to create a great customer experience is key for us as a global brand,” Chief Digital and Omnichannel Officer David Walmsley said in release announcing the creation of the digital hub back in January.

Pandora doesn’t expect the job cuts to result in cost savings.

The company’s financial guidance for 2020 remains unchanged.

The reorganization will translate into one-time costs of 200 million Danish kroner ($300 million), mostly related to severance payments, consultancy support, recruitment costs and other costs associated with closing down the regional offices.

Its total restructuring costs will amount to 1.3 billion Danish kroner ($1.95 billion) in 2020.

Pandora said the cost savings of eliminating 180 employees will be limited and are expected to be offset by costs related to “further strengthening” the company.

The changes are set to go into effect April 2.
Lenore Fedowis the senior editor, news at National Jeweler, covering the retail beat and the business side of jewelry.

The Latest

Lugano Diamonds store in Greenwich, Connecticut
IndependentsMay 09, 2025
Lugano Diamonds CEO Resigns Amid Internal Investigation

Moti Ferder stepped down Wednesday and will not receive any severance pay, parent company Compass Diversified said.

Coeur Percé Scapular Necklace and Love Baby Locket
CollectionsMay 09, 2025
Pieces of the Week: Marie Lichtenberg’s Collaborations for Mother’s Day

Lichtenberg partnered with luxury platform Mytheresa on two designs honoring the connection between mothers and daughters.

Gemfields emeralds
SourcingMay 09, 2025
Gemfields Resumes Emerald Mining in Zambia

The miner announced plans to recommence open-pit mining at Kagem.

antique_Vegas_2024_by_headshot_stories_9454.jpg
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the Globe

Gain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.

Stock image of a man’s hands in handcuffs
CrimeMay 08, 2025
Former NYC Jewelry Store Employee Arrested in 2017 Choking Death of Boss

Michel Desalles allegedly murdered Omid Gholian inside World of Gold N Diamond using zip ties and then fled the country.

Weekly QuizMay 08, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
2025 Met Gala jewelry
EditorsMay 08, 2025
5 ‘Superfine’ Met Gala Jewelry Moments

Associate Editor Lauren McLemore shares her favorite looks from a night of style inspired by Black dandyism.

instappraise-1.png
Supplier BulletinMay 08, 2025
Instappraise Introduces Game-Changing Trifold Appraisal Format

Sponsored by Instappraise

Supplier Spotlight -Recorded-Webinar.png
Brought to you by
Watch: The Winston Red: GIA Examines the Smithsonian’s Newest Addition

Supplier Spotlight Sponsored by GIA

Brilliant Earth three stone Sabine diamond engagement ring
FinancialsMay 08, 2025
Brilliant Earth Notes an Uptick in Engagement Ring Sales in Q1

CEO Beth Gerstein discussed the company’s bridal bestsellers, the potential impact of tariffs, and the rising price of gold.

Exterior of Margot McKinney Beverly Hills Location
IndependentsMay 08, 2025
Margot McKinney Lands in the U.S. With New Boutique

The brand’s first independent location outside of Australia has opened in Beverly Hills, California.

Cathy Marsh
IndependentsMay 08, 2025
Verragio Announces New Regional Sales Manager

Cathy Marsh will lead the jewelry company’s efforts in the upper Midwest and western United States.

Pandora gold and silver charm bracelet
FinancialsMay 07, 2025
Pandora Posts Strong Q1, Plans for Tariffs

The company has multiple strategies for dealing with tariffs, though its CEO said moving manufacturing to the U.S. is not one of them.

Headshot of Smart Age Solutions CEO Emmanuel Raheb
ColumnistsMay 07, 2025
The Smart Lab: Building a Seasonal Marketing Strategy for Mother’s Day and Beyond

Connecting with your customers throughout the year is key to a successful holiday marketing push.

Gemfields rough emeralds
SourcingMay 07, 2025
Gemfields Says Emerald Sales Improved in Latest Auction

Its commercial-quality emerald sale held last month totaled more than $16 million, up from about $11 million in September 2024.

Logo for “In the Loupe,” Punchmark’s podcast
TechnologyMay 07, 2025
Punchmark’s Latest Podcast Features a Very Special Guest

National Jeweler Editor-in-Chief Michelle Graff joined Michael Burpoe to talk tariffs, consumer confidence, and the sky-high price of gold.

Harwell Godfrey Met Gala brooch with Mediterranean Blue diamond
AuctionsMay 06, 2025
Harwell Godfrey Reimagines 10-Carat Blue Diamond for Met Gala-Ready Brooch

Designer Lauren Harwell Godfrey made the piece as an homage to the 2025 gala’s theme, “Superfine: Tailoring Black Style.”

Jewelers of America 20 Under 40 for 2025
Events & AwardsMay 06, 2025
Here’s Who Made Jewelers of America’s New ‘20 Under 40’ List

Expanded this year to include suppliers, JA’s 2025 list honors 40 up-and-coming professionals in the jewelry industry.

Sissys Log Cabin Fort Smith Arkansas
IndependentsMay 06, 2025
Sissy's Log Cabin Opens New Store

Located in Fort Smith, it’s the Mid-South jeweler’s first store in Northwest Arkansas.

Gunderson’s Jewelers
IndependentsMay 06, 2025
Gunderson’s Jewelers to Be Featured on ‘World’s Greatest’ TV Series

The episode about the family-owned jeweler will premiere May 17.

Zadok Jewelers Austin store
IndependentsMay 05, 2025
Zadok Jewelers Opens Store in Austin

The Houston-based jeweler’s new 11,000-square-foot showroom will include a Rolex boutique.

Nancy Astor Cartier turquoise and diamond tiara
AuctionsMay 05, 2025
Nancy Astor’s Cartier Tiara Heads to Auction

The turquoise and diamond tiara hasn’t been on the market since it was purchased by Lord Astor in 1930.

David DeCook Crater of Diamonds State Park 3.81-carat brown Duke Diamond
SourcingMay 05, 2025
Crater of Diamonds Yields 4-Carat Brown Diamond

“The Duke Diamond” is the largest diamond registered at the Arkansas park so far this year.

Kraft Mac & Cheese x Ring Concierge Forever Macaroni Necklace
TrendsMay 02, 2025
Ring Concierge, Kraft Partner on Mother’s Day Macaroni Necklace

The childhood craft of making dried pasta necklaces for Mother’s Day is all grown up as the 14-karat gold “Forever Macaroni” necklace.

Angely Martinez emerald Promise ring
CollectionsMay 02, 2025
Piece of the Week: Angely Martinez’s Emerald Promise Ring

Set with May’s birthstone and featuring an earthworm, this ring is a perfect celebration of spring.

Americut Gems
SourcingMay 01, 2025
Tariffs & Colored Gemstones: Relying on Stock, Considering the Ripple Effect

Though currently paused, high tariffs threaten many countries where gemstones are mined. Dealers are taking measures now to prepare.

Oscar Heyman emerald and diamond necklace
TrendsMay 01, 2025
Amanda’s Style File: 20 Pieces of Emerald Jewelry for May

May babies are lucky indeed, born in a month awash with fresh colors and celebrated with one of the most coveted colored gemstones.

Jewelers of America logo
MajorsMay 01, 2025
Jewelers of America Opens Applications for 2025 Scholarships

The deadline to apply for the Seymour & Evelyn Holtzman Bench Scholarship is June 12.

×

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