Gemological Institute of America, a nonprofit organization specializing in gemological research and education, has announced layoffs affecting 151 employees at its Carlsbad, California, headquarters. The layoffs will take effect on September 23, 2023.
The job cuts impact various roles within the gem lab and some corporate functions. According to GIA spokesperson Stephen Morisseau, these layoffs are attributed to the challenging economic conditions facing the global gem trade, necessitating difficult decisions.
It’s worth noting that the rise of lab-grown diamonds in the market may have contributed to operational challenges for GIA. Although GIA has been offering full grading services for lab-grown diamonds for several years, many lab-grown diamond sellers have preferred to use the International Gemological Institute (IGI) for their grading services.
GIA has emphasized that these staff reductions will not impede its ability to fulfill its consumer protection mission and meet the needs of its clients, students, and stakeholders. The organization remains committed to its core objectives despite the workforce changes.
This move reflects how organizations in various industries may need to adapt to changing market conditions and make tough decisions to navigate economic challenges.