Job Cuts Continue In Diamond Sector

De Beers is set to cut jobs in Botswana, which might send a shiver down the diamond industry’s spine, but India has made clear its intention to source diamonds directly from Botswana. Better sense has prevailed, and Botswana has recognized that it would be wise to diversify the sellers of its famed diamonds, rather than just go through De Beers.

The year has not begun on a good note for the diamond industry. This week, the joint venture between the Botswana government and De Beers, the Debswana Diamond Co has maintained that it would cut 1,000 jobs in an attempt to contain costs.

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