The American beauty specialist is continuing its All-in to Win transformation plan, launched in 2020 during the pandemic. In addition to changing its innovation strategy, it plans to further optimize its spending, with an expected impact on 700 jobs, representing a 6% reduction in its workforce.
After Estée Lauder, it is now the turn of Coty, another major American beauty player, to announce a restructuring of its workforce.
But while the former announced last February that it would cut 5,800 to 7,000 jobs worldwide (9 to 11% of its 62,000 employees), Coty is planning a more modest reduction of around “700 positions, in compliance with all necessary regulations.” However, as it employs just over 11,000 people, the percentage of jobs lost would still be just over 6%.
“Do whatever it takes to win” program
The owner of numerous perfume, makeup, and cosmetics brands and licenses (Bourjois, Lancaster, Burberry, Chloé, Hugo Boss, etc.) launched the outlines of the next phase of its “All-in to Win” transformation program on Thursday, April 24.
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Read also > Coty has a slightly downbeat first half of the year
Featured photo: © Jil Sander/Coty
