This announcement comes directly from the world's largest cosmetics group: L'Oréal will cut 500 jobs (out of 10,500) in the United States over the next six months. Reason given: the current economic context.
12 December 2008
The crisis had already led the group, last October, to considerably lower its earnings forecasts for 2008, due to a sharp slowdown in its activity in Europe and a fall in its sales in the United States. It had also announced the closure of two of its plants (in Wales and Monaco). L'Oréal CEO Jean-Paul Agon recently made no secret of the group's determination to"seriously tackle the issue of cost savings"…
