JULY 5, 2020

New York--Job cuts and reopenings continued to rule the headlines last week, with Swarovski slashing positions and GIA reopening its New York City location.

Also in the news, a D-color diamond went for millions online while in Africa, a company that owns four diamond mines--including the famed Cullinan--announced it was looking for a buyer.

Read on for a recap of 10 of the top stories published on NationalJeweler.com last week.

1) Swarovski Latest to Announce Job Cuts, Slashing 600 Positions
The crystal company is undergoing a restructuring as the COVID-19 pandemic sinks sales in the United States and Asia.

2) 29-Carat D-Color Diamond Breaks Online Auction Record
It sold for $2.1 million at Christie’s online-only jewelry auction, which ended Tuesday.

3) GIA Reopens NY Lab for Business
But its school in the city remains closed.

4) Alrosa Reopens Mine After Coronavirus-Related Shutdown
The International mine is back up and running less than a week after a dozen employees tested positive for COVID-19.

5) Consumer Confidence Rises in June
Reopenings and eased restrictions helped boost consumer confidence, but it’s still below pre-pandemic levels.


6) GJEPC Reschedules IIJS Premiere for January 2021
Exact dates for the Mumbai event haven’t been released yet.

7) The Company That Owns the Cullinan Mine Is Up for Sale
Petra Diamonds is looking for a buyer for some or all its assets.

8) How Small Businesses Are Faring, By the Numbers
A survey by the National Federation of Independent Business took a look at COVID-19 business disruptions, PPP and EIDL loans, and more.

9) Tiffany To Donate $2M to Communities Affected by COVID-19
The jeweler is donating proceeds from its Infinity collection to CARE.

10) Piece of the Week: Jemma Wynne’s Black Lives Matter Pendant
Proceeds benefit multiple organizations working toward racial equality.

By Michelle Graff