GIA lay offs

[hiratop]

GIA Cuts 151 Jobs in Carlsbad, CA

The job cuts take effect in mid-September.

instoremag.com

Is that normal routine? What does it mean? Any connection to the rise of LGDs?

 

[denverappraiser]

I think it had to do with the rise of IGI, which has to do with the rise of LGDs.

 

[Lisa Loves Shiny]

I'm wondering too but of course I am not an industry expert. I thought this article was interesting though.

Diamond Prices Are in Free Fall in One Key Corner of the Market

De Beers has been forced to slash prices aggressively for one of its benchmark products.

www.bloomberg.com

 

[Karl_K]

More diamonds being graded in the oversea GIA labs vs the US lab would be my first guess.
They have also been doing a lot of automation would be the second.
Actually my best guess is more grading done outside the US combined with more automation.

 

[hiratop]

https://roskingemnewsreport.com/curious-details-of-gias-july-lab-staff-layoffs/

 

[Garry H (Cut Nut)]

See my post on GIA discounting because of India closing down rough diamond imports for 2 months.

India stops rough diamond imports for 2 months

Natural diamond prices will rise. On top of India stopping rough imports, Russia has stopped exporting. What changed, what happened: 1. jewelers and wholesalers are stocking fewer natural diamonds and more man made dian=monds - even though prices on larger stones will continue to fall by...

www.pricescope.com