Coty to Cut 700 Jobs As Part of Cost-Saving Initiative

Coty announced on Thursday that it would cut around 700 jobs across the globe as part of an enhanced cost-cutting initiative, which would represent around 5 percent of its total workforce.

In an internal email viewed by The Business of Beauty, Coty’s chief executive Sue Nabi highlighted tariff regulations, a new geopolitical landscape and shifting consumer behaviour as factors impacting the decision. According to the email, the job cuts will begin to be implemented in the next few months.