Pandora, a Danish jewelry maker is best known for their charm bracelets. The shop is also considered the largest producer in terms of jewelry. But recently, their sales are not that good- recording a decrease of about 12% to 20% in their home country. As a result, the company is planning to cut off about 400 jobs.
The jewelry maker has its factory on Thailand, specifically in Bangkok and Lamphun. Overall, there are 13, 000 Pandora employees in the country and it was reported that half of the jobs that will be cut off is coming from Thailand.
Though a lot is fond of Pandora’s products, the number of people who visits the shop occasionally became fewer than it was before. Along with that, over 600 stores located in the United Kingdom and the United States had their sales hit rock bottom.
To get through with their loss, the company will be cutting 397 employees in hopes that this will increase their income. The company is avoiding the possibility of bankruptcy as this was considered as one of their biggest loss since the previous one, last April.
Amidst the problem at hand, Pandora plans to open new stores in different regions around the world, concentrating on areas within Europe, the Middle East, and Africa. There are also plans on expanding their company in the United States, as well as in countries within Asia.
Analysts and Strategists suggested some ways on how the company can get back to its feet. One stated that since the behavior of their customers is constantly changing, they should find a way to make them like the products the company is currently producing. In this kind of situation, gossip and rumors might actually even be helpful.
With a new marketing strategy and a unique way of persuading their customers, they might be able to bring back hope to the ones who lost it.