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Thursday, December 3, 2020

Pandora to Pay all Staff in Full During Pandemic

Pandora, the world’s biggest jewellery chain, has announced that they have no plans to permanently shut any of their 2,700 stores despite the effects of the Coronavirus pandemic. In a move which sets them apart from many other businesses worldwide, they also plan to continue topping up furlough payments for all of their staff ensuring that everybody receives their full wages. This comes despite the fact that England has entered a second national lockdown and all stores have once again been forced to close. It is estimated that around 18% of the companies stores will be closed across Europe during November.

At the height of the pandemic, earlier this year, almost 80% of the companies stores worldwide were forced to shut their doors to customers. Pandora opted to keep all of it’s nearly 28,000 staff on payroll and guaranteed their wages. 

Chief Executive Alexander Lacik has said that the firm is able to “withstand a big drop in sales” before they would even have to consider making redundancies. He is very proud of the way that the company has looked after its staff, saying that it was the “ethical thing to do”. 

As with many retailers, Pandora has found that online sales have been booming over the companies sales over the course of this year. Online sales have accounted for over 20% of the companies sales up until the end of September. But, Mr Lacik still says that high street stores will “continue to be an important part of the industry at large” and is keen to ensure that customers continue to have the same retail experiences that they’ve always had from the company.

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