// Pandora cuts 180 jobs as part of major reshuffle
// The job cuts affect its 3 regional offices as part of a strategic global reorganisation into 10 clusters
// It forms part of Pandora’s wider turnaround scheme and the new structure takes effect April 2
Pandora it set to slash 180 jobs from its three regional offices for a strategic global reorganisation as part of its wider turnaround scheme.
The Danish jewellery retailer said the job cuts will come about after it reorganises its international structure into 10 clusters, with two clusters in the Americas, three in Asia Pacific and five in EMEA.
Each cluster will be headed by a general manager, a move that will see three top regional executives lose their titles.
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As a result, Pandora Asia Pacific president Kenneth Madsen will be leaving the retailer, while Pandora America president Sid Keswani will become president of the North America cluster.
David Allen, currently Pandora EMEA president, will stay on to support the implementation of Programme Now – although Pandora did not specify in which capacity.
The new international structure will take effect from April 2.
All of the new cluster bosses will report to a new chief commercial officer, who will be announced in Pandora’s second quarter.
The commercial chief will be in charge of overseeing the clusters and improve Pandora’s retail skills in terms of global merchandising, store development, planning and execution.
Pandora added that it would be creating two Global Business Units – one to focus on core products while the other will focus on driving innovations.
The retailer said the restructure will cost the business 200 million Danish kroner (£22.89 million), but said it would be worth the faster operations it intends to deliver as a result.
In its full year result, published last month, Pandora said it had completed the first year of our two-year turnaround scheme.
This included a re-launch late last year, as well as the roll-out of a new store design, new online platforms, partnerships and products.
“With today’s announcement, we bring our global headquarters closer to our local markets and consumers, and ensure that feedback from consumers can more quickly fuel new concept creations,” Pandora chief executive Alexander Lacik said.
“The reorganisation will reduce organisational complexity, enable Pandora to execute with more speed and agility, and add critical capabilities required to support growth.”
The international leadership restructure comes shortly after Pandora appointed Carla Liuni as chief marketing officer and Erik Schmidt as chief HR officer.