Pandora Axes 180 Jobs to Support Growth
March 05, 20
(IDEX Online) - The Danish jewelry retailer Pandora is to axe 180 office jobs, in a bid to reduce "organisational complexity".
The company, which has 22,000 employees, started as a family-run shop in Copenhagen, and is known for its customizable charm bracelets, designer rings and necklaces.
It says it will close its three regional offices in April, in a move that will cost $30m, to streamline its global structure.
 
"The reorganisation will reduce organisational complexity, enable Pandora to execute with more speed and agility, and add critical capabilities required to support growth," said Pandora chief executive Alexander Lacik in a press statement.
 
In its full year result, published last month, Pandora said it had completed the first year of our two-year turnaround scheme, including a re-launch late last year and the roll-out of a new store design and online platforms