Beauty firm Coty to restructure its business in France
COTY•Coty plans to restructure its business in France following a review. It is reportedly proposing to cut 155 of its 200 jobs in the country.
1. France restructuring proposal
Coty said its proposal for France includes reshaping its consumer beauty business and reviewing its prestige operating model. The proposal is subject to local labor law and is aligned with the company’s strategy to build a simpler, more focused and more sustainable organisation.
2. Reported job cuts
Coty is reportedly proposing to cut 155 of its 200 jobs in France, citing union sources. Strength in prestige brands including Marc Jacobs, Hugo Boss and Burberry is helping interim CEO Markus Strobel to revitalise the business.
