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Botswana Diamond Producers Cut 1,000 Jobs in Past Year: Mmegi

Aug 13, 2015 10:57 AM   By Rapaport News
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RAPAPORT... Botswana’s diamond manufacturers have laid off almost 1,000 cutters and polishers in the past 12 months as higher rough combined with and relatively lower polished prices lowered profitability, according to a local newspaper.

At their peak, the producers employed about 3,700 workers, the Mmegi Businessweek reported this week.

The latest manufacturer to let go staff was Diacore, part of Botswana’s Steinmetz Diamond Group, which slashed 50 jobs at its Gaborone factory, according to Mmegi.
Companies that have scaled back workforce in the past year, as per the media outlet, include Moti Ganz Botswana, Leo Schachter & Company, Eurostar Botswana, Shrenuj & Co, Safdico Botswana, Zebra Diamonds, A. Dalumi Diamonds, Laurelton Diamonds – a subsidiary of Tiffany & Co.

In addition, polishing outfits Teemane Manufacturing Co. and Diamond Manufacturing Botswana have closed shop. 
Tags: Botswana, cutters, downsizing, firing, layoff, Mmegi, polishers, Rapaport News
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