Pandora is laying off workers and centralising its management structure as part of a wide-ranging reorganisation.
The jewellery retailer will close its three regional organisations, with the 100 markets where it operates grouped into 10 clusters. Each of these will be headed by a general manager based in the largest market in the cluster.
These general managers will then report to the chief commercial officer (CCO) a newly created role on the executive leadership team, who will in turn report to CEO Alexander Lacik. The CCO will also head up a new retail centre of excellence, which will focus on global merchandising, store development, planning and execution.
The company said the first CCO will be announced soon and start at the company early in Q2 2020.
Pandora will look to ensure a more consistent brand experience through two global business units which will have end-to-end responsibility for product performance. One will handle core products such as moments and charms while the other will focus on newer, more innovative products. Both units will report to new chief marketing officer Carla Liuni, who starts on 16 March.
In addition, Pandora will introduce a new function called network and franchise management to oversee the company’s retail estate and franchise partnerships. It will also add a global business services centre, which will aim to find efficient ways of working and standards for the organisation.
One hundred and eighty employees will leave the company as part of the reorganisation, with the three current regional presidents stepping down from the executive leadership team.
The new organisation will take effect from 2 April and aims to eliminate an organisational layer and bring local markets under more direct control.
Alexander Lacik, President & CEO of Pandora, said: “With today’s announcement, we bring our global headquarters closer to our local markets and consumers, and ensure that feedback from consumers can more quickly fuel new concept creations.
“The reorganisation will reduce organisational complexity, enable Pandora to execute with more speed and agility, and add critical capabilities required to support growth.”
This comes as part of Pandora’s Programme NOW initiative, a multi-year effort to overhaul and simplify business structures and IT estates. The goal is to create a more consistent brand identity following several years of flat or falling revenues.