Signet Lays Off Some Furloughed Employees

RAPAPORT… Some Signet Jewelers team members will not return from furlough after the company restructured its store operations during the Covid-19 shutdown.

The jeweler has recalled most of its furloughed employees, but has laid off an unspecified number, it noted. In June, the owner of Kay Jewelers, Jared and Zales announced it was closing 380 stores.

The jeweler is moving toward a more digital business model following reduced foot traffic inside stores, David Bouffard, Signet’s vice president of corporate affairs, told Rapaport News Tuesday. For example, the company has introduced technology allowing customers to use smartphone cameras to view merchandise, and is training virtual consultants.

During the closure, Signet conducted over 200,000 remote appointments and more than 70 virtual weddings, it said. E-commerce sales rose 55% in April.

“As a result of our transformation plans, some team members will not return from furlough, and we are taking great care to provide a thoughtful separation program for our team members who will be leaving,” Bouffard added. “For the large majority of team members who we are welcoming back, we are continuing our acceleration to a truly omni-channel experience.”


Image: A Kay Jewelers store in California. (Shutterstock)