De Beers 25% Staff Reduction Completed

The De Beers Group completed a 25 percent staff reduction at its London headquarters. The process, brought on as part of a corporate expense reduction measure, was a direct outcome of the economic crisis that started in October and led to a sharp decline in diamond sales.

Some 100 of the 400 people employed by De Beers in London have lost their jobs, some leaving voluntarily.

The company started a 90-day consultation process just before Christmas, shortly after the diamond miner curtailed rough diamond sales and diamond mining. Employees were offered to apply for certain jobs within the company if their position was found to be redundant and had an opportunity to challenge their lay off.

“As you know, we have recently completed a comprehensive review of the activities of De Beers UK (which includes Forevermark, DTC and De Beers Group functions) to move our cost base to a level that reflects the current economic climate,” De Beers spokeswoman Lynette Gould told IDEX Online. “As a result of this review, there have been approximately 100 voluntary severances and/or redundancies across De Beers UK.”