L'Oreal cuts 4.7% of its US workforce
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L'Oreal cuts 4.7% of its US workforce
www.EmploymentCrossing.com French cosmetics company L'Oreal has announced its cutting US staff levels to better cope with the tempestuous economy. Between now and mid-2009, the company plans to cut 500 positions in order to help the company streamline its activities. In an CNN Money article, Marco Gulpers, an analyst with ING, said slow travel is weighing on duty-free shop perfume sales as well as slower department store traffic. L'Oreal in recent months lowered its full-year targets as the consumer slump hit business in its key Western European and North American markets. For more information click here
YouTube | December 16, 2008
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