Pandora Trims Workforce Again Amid Reorganization

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.

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