Pandora to Slash 180 Jobs in Restructuring

RAPAPORT... Pandora is embarking on a major streamlining process aimed at speeding up its ability to act on customer feedback, the jeweler said Wednesday.The Danish company will close its three regional offices - management centers that oversee stores in specific parts of the world - to eliminate a layer between upper management and customers, it noted. It will cut 180 workers as a result."[This] brings our global headquarters closer to our local markets and consumers, and ensures that feedback from consumers can more quickly fuel new concept creations," noted Pandora CEO Alexander Lacik. "The reorganization will reduce organizational complexity, enable Pandora to execute with more speed and agility, and add critical capabilities required to support growth."Pandora will group its market areas into 10 clusters, each of which will be headed by a general manager who is based in the largest market within that cluster. All general managers will report to a newly hired chief commercial officer, whose identity the company will disclose shortly.The jeweler will also establish two global business units that will oversee all products, which it believes will offer a more consistent marketing message and consumer experience, it said. One unit will be responsible for core products, including its Moments collection, charms and collaborations, while the second will drive newer product categories and innovations.The units will report to chief marketing officer Carla Liuni.Additionally, as part of the new restructuring, three regional presidents will step down from the executive team. The new system will take effect April 2.Image: A Pandora jewelry stand. (Shutterstock)