25
Mar
De Beers has made one of the deepest ever cuts to its group of handpicked diamond buyers as the former monopoly grapples with a prolonged crisis roiling the industry, people with knowledge of the matter said. The company informed its customers, known as sightholders, on Friday whether they’d kept that status in a series of letters and follow-up calls, the people said, asking not to be identified as discussing confidential information. De Beers cut the number of buyers to between 45 and 50 from around 70, they said. De Beers declined to comment. The storied diamond miner has been mulling…
