The recent spate of tech layoffs has now spread to the jewelry industry, as Brilliant Earth became one of the latest online companies to cut workers from its payroll.
The e-tailer tells JCK: “Like many companies, we recently made the difficult decision to reduce a limited number of employee positions to align our team structure and business needs. This impacted fewer than 50 employees.”
The layoffs appeared to have happened over the past few weeks, according to the San Francisco Business Times, which broke the news. It estimated the number of affected employees at 32.
Brilliant Earth’s statement noted that it has “always taken a disciplined approach to our operations. This includes managing operating expenses to drive profitability and reviewing staffing levels based on the evolving needs of the business.… We sincerely thank these team members for their contributions to Brilliant Earth and wish them all the best in their future endeavors.”
In related news, the company announced it was opening its 26th showroom, in Charlotte, N.C.
Its other showrooms are in Atlanta; Austin, Texas; Baltimore; Bethesda, Md.; Boston; Chicago; Cleveland; Columbus, Ohio; Dallas; Denver; Detroit; Houston; Los Angeles; Minneapolis; New York City; Palo Alto, Calif.; Philadelphia; Portland, Ore.; San Diego; San Francisco; Santa Monica, Calif.; Scottsdale, Ariz.; Seattle; St. Louis; and Washington, D.C.
In its latest financial results, Brilliant Earth reported sales for the third quarter (ended Sept. 30, 2022) rose 17% to $111.4 million, but its stock fell after it lowered its guidance for the fourth quarter. In its annual report issued last March, the company said it employed 420 full-time employees at the end of 2021.
Top: Brilliant Earth’s new showroom in Charlotte, N.C. (Photo courtesy of Brilliant Earth)
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