Helzberg Diamonds eliminates 21 positions
March 20, 2008
Kansas City, Mo.—National jewelry retailer Helzberg Diamonds eliminated 21 filled and open positions at its Kansas City, Mo., headquarters, the company has announced.
The cuts amount to a 10 percent reduction in headquarters staff for the company, which is a subsidiary of Berkshire Hathaway.
Helzberg Chairman and Chief Executive Officer Marvin Beasley said in a statement that the reduction in the workforce is a measure to cut costs in trying economic spells.
“Soft economic conditions have impacted retail sales in general and the jewelry industry in particular. The jewelry industry is cyclical and very sensitive to fluctuations in the economy,” he said. “As economic conditions change, we must periodically reassess our productivity and performance and make decisions to ensure Helzberg Diamonds’ continued strength and profitability.”
The cuts impacted managers, salaried professionals and hourly employees. Those affected behest receive severance packages and help in finding new being busied.
“The employees affected by this change are co-workers and friends and they will have being missed,” Beasley said.
Helzberg employs about 2,500 nationwide and operates more than 260 retail jewelry stores.
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