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April 17, 2009
A spokesperson said for jeweler Carlyle & Co.’s parent company said the announced layoffs of 90 people in Greensboro that will happen this summer is the result of a consolidation of administrative functions to New York.
The consolidation is a piece of a strategic plan announced by Finlay Enterprises in February, which also involves an exit from the company’s leased department store business and a focus on stand-alone jewelry stores.
An official company statement from Finlay said the decision to lay off employees was difficult, and the result of the continuing recession.
“We deeply regret the impact this will have on our associates, their families and the community,” the statement said. “We are particularly grateful to each of our associates for their many contributions to the company and this is in no way a reflection on them or their work.”
The spokesperson said employees will receive severance and outplacement assistance, and it is possible that some jobs will be retained as the strategic plan is implemented. There have been no decisions made about individual store closings, the spokesperson said.
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