GIA + 20% Work force reduction = terrible service (again).

[diagem]

From about the deepening of this financial crisis (September) and until a week ago..., submitting Diamonds to GIA for grading was again becoming efficient, professional and accompanied with great service.

Thats after years of ridiculus service, grading inconsistencies and unheard waiting periods (4-6 weeks) for submitting and receiving final grades and reports.

It looks that GIA has a different agenda as far as their efficiency is concerned...

The only thing I dont fully understand...., why fire (20%) workers..., to become again less efficient?

 

[strmrdr]

That sux but they are experiencing a decline in business so it makes sense.

 

[blastdoor]

Date: 3/4/2009 4:49:40 AM
Author: strmrdr
That sux but they are experiencing a decline in business so it makes sense.

hmmm.. does that mean there are now less diamonds being cut / produced (perhaps due to reduced demand) or does that mean more diamonds will now be sold ungraded or graded by a perhaps more economical lab?

sorry for the extremely noob question...

 

[strmrdr]

less diamonds being cut / produced

Miners are cutting production the pipeline is already flooded with polished.
The industry lags the economy somewhat as a big part of the sales are made only during limited times of the year.
Jan of next year is when I see it hitting the hardest.
A lot of the industry will not survive the holiday season 2009.

 

[blastdoor]

thank you very much..

eta: it sounds so sad... the 20% cut in workforce means more people are losing their jobs..

 

[oldmancoyote]

Grading report cost are not all that different across labs. Volumes will probably go down, however