Signet Jewelers to Cut 30% of Senior Leadership Jobs, CEO Says -- Market Talk

Dow Jones

03-20

1320 ET - Signet Jewelers' push to redesign its operating model in order to better support growth will include reducing its number of senior leadership team members by roughly 30%, CEO J.K. Symancyk says on a call with analysts. He didn't disclose the number of jobs that will be cut. Under its reorganization, Signet will simplify the structure of its portfolio and services by centralizing the leadership and operation of its brands into four customer families. It will additionally consolidate several functions, including media buying and some core merchandising, to maximize benefits of scale and optimize spend, Symancyk says. Other changes will include bringing repair services under one roof, combining the company's digital and IT teams, and reorganizing store operations to a brand-specific structure. (connor.hart@wsj.com)

(END) Dow Jones Newswires

March 19, 2025 13:20 ET (17:20 GMT)

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Symancyk says on a call with analysts. He didn't disclose the number of jobs that will be cut. Under its reorganization, Signet will simplify the structure of its portfolio and services by centralizing the leadership and operation of its brands into four customer families. It will additionally consolidate several functions, including media buying and some core merchandising, to maximize benefits of scale and optimize spend, Symancyk says. Other changes will include bringing repair services under one roof, combining the company's digital and IT teams, and reorganizing store operations to a brand-specific structure. 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