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Dazzling: Taylor Swift wore De Beers jewelry at the Golden Globes
De Beers is set to unveil a wide-ranging trading strategy just weeks after warning it had been hit by a slump in diamond prices.
Boss Al Cook is expected to set out in more detail how many jobs will be cut from his 20,000-strong workforce, how he will cut costs by £78m a year and which projects he will sell or close.
De Beers is the world’s largest diamond miner by value and is famous for creating the advertising slogan “A Diamond is Forever” in the 1960s.
Cook told The Mail on Sunday he wanted to “rekindle” the appeal of natural diamonds at a time when cheaper lab-grown alternatives have gained popularity.
As well as dealing with a fall in the value of stones, De Beers owner Anglo American recently wrote down the value of the company by £1.3bn.
Cook said he didn’t expect business to start recovering until the second half of this year.